Yes I fully agree. It is complete BS that Huntley has kept the RNY listing suspended for 16 months, probably by manufacturing some "legit" reason for the suspension to cover their ass. The reason for the suspension (2018 audit) was finalised months ago, and yet here we are, still suspended. IMHO there is collusion occurring between Huntley, Aurora, and Keybridge, with Huntley deliberately keeping the shares suspended to help facilitate this off-market takeover. With the shares still suspended after 16 months, minority shareholders have no alternative to divest their shares except into Keybridge's opportunistic and highly unfair off-market takeover.
Very few shareholders realise the NTA of RNY shares is likely around 5 cents per share. Yet Keybridge is offering only 1.1c. No mention of RNY's NTA in today's announcement of course. Oh, and I notice that Keybridge again lied about the premium (it's only 120%). The reality is Keybridge's offer is only about 20% of RNY's last reported NTA, so it's extremely unfair and unreasonable, IMHO.
I filed a complaint with ASIC today and I suggest other minority shareholders do the same before this company is basically stolen from us via compulsory acquisition, as they only need to get about 10% more to reach the 90% threshold. If RNY shares start trading again I'm sure we'll see the share price jump from 0.5c to almost 10x that. That's an instant 10-bagger.
All in my humble opinion!
RNY Price at posting:
0.5¢ Sentiment: Buy Disclosure: Held
