100% correct Bluegoose. If one wants to see what can happen in a...

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dynofish

3,998 Posts.

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09/01/23

14:53

Post #: 65599046
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Originally posted by Bluegoose: ↑

50 cents is the floor but I guess a little bit of risk reflected in the SP that the deal may not go ahead.

But this isn't just a "bid" where the chances of completing a deal are a lot lower, this is a Scheme of arrangement where both parties have agreed key terms a price (subject to a superior offer).

So personally, I think it would be foolish to sell at below 50 cents when it's somewhat likely we will be looking at 60,70, 80 cents when either a superior offer is presented, or, the report commissioned by ESS shows that the offer price is on the low side and should be sweetened.

Hence this is definitely a HOLD for me as I am expecting at least another 20%+ from the 50 cent initial offer.

But then again I am an investor, and not a trader flipping for pips.

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100% correct Bluegoose. If one wants to see what can happen in a takeover battle, check out WGO!

There bidding started below $0.20 and has escalated to now be at $0.36 and rising. I will not be voting any of my holding in favour of this proposal. What worries me somewhat is that the price is not trading at a premium to the offer price which says at least speculators are not punting on a further offer. Nevertheless this proposal is way too low to be of any interest imo.

regards
DF

ESS Price at posting: 47.8¢ Sentiment: Hold Disclosure: Held
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100% correct Bluegoose. If one wants to see what can happen in a...

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