With NXT's latest disclosure shareholders -- as a proxy for Mr. Market -- have LOUDLY spoken.
23.08.17: 20.77% owned by NXT.
06.09.17: 21.77% owned by NXT.
The BoD's full endorsement -- a group ostensibly "working" to increase shareholder value -- has been weighed by Mr. Market. The result:
1.04%!
Conclusion #1: The offer has been found to not be acceptable by 78.23% of all outstanding holders (much higher percentage when stripping out NXT's 21.77%). No insto support, except possibly at the edges. Virtually nil retail support.
Conclusion #2: The BoD's enthusiastic acceptance of the low ball bid, combined with Mr. Market's steadfast resoundingly loud and clear actions, suggest the BoD MAY have lost all integrity.
These are what the numbers conclude for me.
Therefore, personally, I do NOT feel compelled to do anything but hold. Keep in mind a better offer may not appear, and 15.09.17 is when NXT's offer expires, "UNLESS EXTENDED." (Caps mine.)
IF a bigger offer doesn't materialize the sp will suffer, BUT AJD will still be in play. White Knight anyone?
Trade accordingly.
OV
AJD Price at posting:
$1.88 Sentiment: Buy Disclosure: Held
