mall approvals have been applied under MSB. Don’t underestimate the red tape required in making these changes. However it may not be required as MSB will become a fully owned subsidiary of LPI. That may negate some of the issues.
BRZ don’t vote until September. I don’t anticipate any news between now ant then which means SP will likely languish around the$0.46c mark for some time. the low SP has caused much more dilution of the total share register and the spin out company.
Managements lack of action on GB has meant shareholders miss out.
MSB and BRZ have both been offered a consideration based on the value of LPI.
MSB - 161M shares at $0.46 = $74M
BRZ - 76M shares at $0.46 = $34M
had this of been done 1 month ago VWAP would have been say $0.80. Half the shares would have been required. BRZ MC would not have been hugely different.
Once again timing sucks from management. Sure it allows 100% ownership, but dilution is significant from what it would have been only a month ago.
30% shareholding from MB in the fully diluted makes me nervous also.
not managements finest hour yet again
LPI Price at posting:
38.5¢ Sentiment: Buy Disclosure: Held
