exactly what i said the other day
but the 2 not mutually exclusive
directors have to support it cos of 'fiduciary duty'. 9+ years akm's been at this with a wilting sp for the most part through no fault of its own. just been death of a thousand cuts for coal juniors
he's a welcome friend and the only one with the muscle to make it all happen.absent any other offers they have to recommend
but as s/hs we can ask a reasonable price. whereas directors cant push back - not meaningfully
saw all this with a few other t/o's ive been in
if sh/s make enough representations to board or if it was voted down pounds to peanuts he would put up an increased offer.
3c for this would cost an extra $15m - thats both fair to us and minor in scheme of what he's already committing too.
he wont be glad to pay but he'll know its only reasonable. but he wont volunteer it
maybe it will be waved through - if so not the end of the world
but the math says its a v low price for change of control and dilution impact on value/share
enough shs ask the board for a fairer price either before or by no votes everyone will win and no sour grapes taste in years to come
but anyway - everyone needs to to vote how they think best. those of us that actually have shares
just figured its worth pointing out if you havent been through a quiet t/o before
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exactly what i said the other daybut the 2 not mutually...
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