As I said in my 17/6/22 post, it's far from an ideal situation...

As I said in my 17/6/22 post, it's far from an ideal situation Mong. With all the machinations from both BOD's, there is plenty of fodder for both sides to engage in HC debate.

But here we are with 60+ % of NME holding out, successful corporate actions that failed to resolve core issues or achieve TO ambitions, a failed BOD takeover, falling SP and MCT still holding course.

Although unpopular with MCT holders, as an NME holder, I genuinely thought that resistance to the original offer would have resulted in a stronger bid. After all, starting a hostile TO with <5% holding, was interpreted by me as MCT desperately wanting what we had.

A better offer has not materialised and it's now difficult to withdraw the offer, and made even harder with unconditional TO conditions that mean MCT would need to find cash to avoid dilution in any future NME raise.

But it's not impossible.

Rather than continuing the protracted mess, I plead with both BOD to engage with a view to resolution.

Either:
a. Withdraw offer and play nice with each other. Both entities can move forward with CR and move the project forward.
or
b. Move forward with one combined entity by increasing offer (unfortunately this is what it usually takes if you don't like option a) - but set director limits for both MCT and NME on new combined entity - WITH an independent director (not MCT nor NME aligned)