It is a normal procedure to appoint a takeover defender though. The press release on 2 Nov 2021 already said they have received financial and legal advice in regard to NWL's bid.
I think Wamsteker is trying to replicate the bid war that Mainstream had. However, things didn't play out like what he planned with costs being the main issue. PPS turned from net profit to net loss, basically gave way to a 3rd party to do a low ball offer. They shot themselves in the foot.
Ann: PPS Investor Presentation - H1 FY2022 Results, page-39
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Last
45.3¢ |
Change
-0.008(1.63%) |
Mkt cap ! $221.7M | |||
| Open | High | Low | Value | Volume |
| 45.3¢ | 45.3¢ | 45.3¢ | $1.629K | 3.601K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 62151 | 45.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 45.5¢ | 31850 | 6 |
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| PPS (ASX) Chart |