Giving themselves another 3 weeks to try and acquire 50%.
I suspected this would fail, especially at the poor price of just 35 cents.
Like I said, at 45 cents I might have considered selling into the takeover bid, and I think a few others share that sentiment.
But this was a low ball, cheap opportunistic offer before the company had even bought in their first season's catch.
The offer was probably accepted by the directors because they get performance bonuses if it succeeds, so they were up for a quick and easy early profit (which might show where some of the director's loyalties actually are, unfortunately).
But average shareholders do not get performance bonuses - which makes all the difference.
This will probably not succeed now, they only have 26% acceptance, a long way off 50%.
So make us shareholder another offer Sea Harvest, this time a fair and decent one, or get out of the way.
I suspect one or two directors may have to go as well, now that they have clearly shown their hand, and where they are actually coming from, which should make for an interesting first up annual report meeting.
We want directors who are interested in building the company and marketing it's products, not those after quick performance bonus millions for selling out early. This has been a very disappointing director response.
I will grab some more when this takeover bid fails, and when the price dips on Sea Harvest selling out, and when one or two more loyal (to the shareholders) directors come onboard.
Gw
Expand
(20min delay)