Well done HT. A "no" vote is now the ONLY way to get a better outcome through an alternative offer (Morgan Stanley?). I know this because I called OZ this morning and asked to speak to the Chairman. He is away for "several days" including a site visit to PH and can't be contacted. How very convenient for him!! ("Another offer on the table? Oh yeah, I'll make my self scarce.")
Does anyone seriously believe that the banks would put the company into administration if the vote was 'no'? Six months ago it was a certainty. Now? A rights issue and a two or three hundred million bankl loan would be a certainty within days. (Even the most junior of resource companies are doing it in this totally different enviornment, with metals prices up substancialy and still rising, and cash flow swinging back to positive.)
Vote NO!!
Ann: Minmetals offer approvals , page-7
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)