Hi leockl,I hear what you’re saying about LG fluffing the 100%...

Hi leockl,

I hear what you’re saying about LG fluffing the 100% acquisition but I don’t think they’d be too worried at this stage about having 76.2% as they have control. They’ve appointed new directors and moved offices so they think they own the company.

They issued 8.46% of their capital to gain 76% control which is a fair effort. Now if they want full control they can take their time to mop up. As we have seen in the last month the SP has fallen from $.02 to $.012 as people bail and who knows what Centaurus might be up to?

I don’t really think LG thought they’d ever get 100% they just tried to get as much as they could as cheaply as possible. Maybe in time they’ll have to throw some cash to pick up the remainder but in the meantime they just have to sit tight and see who coughs up their shares. I think tax loss time will be interesting and I expect the SP to go lower in the interim.

Anyway, whether LG stuffed up or not is immaterial now. As you pointed out we now need to focus on our own reasons for holding and hope LG gets on with it.

I wouldn’t be surprised if a few of our former shareholders who accepted the LG offer are in the process of selling on the SGX and then intend to buy back on the ASX over the coming month now the ASX SP has plummeted. It looks like the buying depth has filled out a bit over the last couple of days albeit at very low bids.

Like I said earlier I’m going to bunker down, maybe even hibernate and let big brother do the heavy lifting.

glta still holding.