Ann: LIT: Bidder's Statement, page-24

Sounds to me, if they want to replace the whole board, they probably don't want to use L-max, but rather destroy it, dust bin it along with management and shareholders. Lots of stick here, but no carrot.

So between the lines I'm getting, "Trade your shares with us at a loss, then take a further loss on dilution, or we will dump what holding we have, strategically, hammering your share price and locking you into a position until we can acquire your shares compulsorily, which you won't want anymore anyway, because we chodes will now be in charge, and we don't want the industry disrupted with your dumb, cost effective, clean, safe, brainy technology, we keep the lithium world dirty and dangerous, just how we like it."

Someone please put these guys in jail.