Shares will open at 5c. Anyone who thinks that this will be the final offer is welcome to sell on market and get their 5c. CAML will buy as much as they can on market to try and influence the vote.
If the market thinks that another bid may arrive then we'll see the market price start to move up from 5c in anticipation.
Management will start calling all shareholders to get an idea as to the chance of getting 75% approval. If enough shareholders say that they won't support the bid then we may see a more generous offer appear from CAML. Otherwise if it's looking hopeless, management may abandon the whole process.
Hopefully while all this is going on, progress on the DFS will continue in the background and approvals will start falling in place.
Fun and games ahead.
NWC Price at posting:
2.8¢ Sentiment: Hold Disclosure: Held
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