Yep ... there's a lot that seems similar in the above [without knowing the details].
perhaps GTT just didn't quite get it right. ..... If GTT had proceeded to act in shareholders' interest nobody would have screamed, quite the opposite. But the history is ....shareholders rebelled on the announcement of the second placement [to be controlled by GTT] in which 35% [from memory] of the company was going to be rolled over again in a highly discounted offering which excluded existing retail holders.
Once the rebellion started all kinds of nasty facts gradually emerged which had been hidden from shareholders ... the culmination was the appeal to the Takeovers Panel
4CE Price at posting:
1.7¢ Sentiment: None Disclosure: Held
(20min delay)