re: Ann: NEC Directors' Recommendation on... I actually find the boards overall response understandable and representative of their stance midlife. In essence:
* They believe the offer undervalues the shares.
* The independent report is what they have to go by.
* They are practical and realise larger shareholders will be accepting, making the stock illiquid and unattractive.
The fact that one is accepting without a recommendation is basically saying "you have to make up your own mind - but I find the risks outweigh the rewards". One is not accepting. The others are recommending and accepting. IN short, a sign that not an easy decision for the board. Who can blame them? THey have done their best for shareholders at least re this offer.
They are disappointed that nothing more came, but opted for the low risk option. Who can blame them.
I'm not sure of NHC is allowed to extend (??) however if not then the stock will almost certainly become illiquid and listed with a mop up sometime in the future.
MJS
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Last
$1.13 |
Change
0.025(2.26%) |
Mkt cap ! $1.791B | |||
| Open | High | Low | Value | Volume |
| $1.10 | $1.14 | $1.10 | $5.639M | 5.003M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 49973 | $1.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.14 | 5818 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| NEC (ASX) Chart |