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They don't have to recommend shareholders accept the offer....

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Jonnyash

1,323 Posts.

118

28/10/22

12:18

Post #: 64454884
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Originally posted by Mr.Lumin: ↑

I think the board is trying to use this annual general meeting to reduce Skips hand and ability to takeover the company. I've got a feeling that the BOD, although required lawfully to recommend acceptance of the offer as the courts would rule it as being in favour of the shareholders, don't personally view as being in the best interests of shareholders and themselves and are therefore doing what the can to retain the company and weaken Skips ability/will.

After all, they did announce not to long ago that they were exploring defensive options to prevent a takeover from occurring.

This is in my very novice opinion, but does anyone with more legal/investing experience have a view on this?

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They don't have to recommend shareholders accept the offer. They wanted it sold at 25c.

GNX Price at posting: 20.0¢ Sentiment: None Disclosure: Held
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