Yeah will open at 5c i guess. I will hold and hope for better offers. No mention of RCF in the announcement so will be interesting to see if there is any follow up announcements with respect to what RCF intend to do. Last take over i was involved in, a substantial shareholder had provided a letter confirming intention to support. Obviously management don't have that as they would have said so if they did. IMO RCF and the other instos will determine our fate now. Unfortunately they all likely new this plan at the last capital raise.
Regardless given the scheme would come into affect next FY, i would hold just to defer the capital gains tax. Others with a buy price more than 5c might sell on market to get the CGT loss offset i guess.
As it is i will vote no, and it wont make any difference.
I would hope management does a webinar soon to explain their recommendation in relation to their own comparison to Foran....
NWC Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
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