There are reams of RMS bidder statements and offer documents and none of you can answer the question and post a link to where it says that if the defeating conditions are triggered and RMS withdraw their offer as a result, all EXU acceptances are voided. ie the acceptances are voided and the shares are returned.
As I said in my previous post if this is the case it should have been written in bold 20 font so that investors wouldn’t be caught up in the trap of letting RMS have an opinion over their shares while they played their games. I’d be pretty upset if I was an investor who accepted early like @smartdude and don’t get my RMS shares. Maybe they can tell us what they know, after all they wouldn’t accept an offer without understanding how it works, would they?
I’m not going to trawl through all the paper work for the answer as I’ve never been interested in RMS’s offer other than how it would effect the price of EXU shares but my opinion is that RMS has acquired a relevant interest through the offer and it can’t void the offer and acceptance in the agreement for the people who have accepted. I could be wrong and if I am it’s really poor form on the part of RMS IMO that they didn’t make the workings of the offer crystal clear to the people to which the offer was made.
In anycase EXU has pushed the ALK strategic investment vote out to 21 Dec 2018 which is the same date that the RMS offer lapses, so approval of the ALK offer will not trigger the defeating condition unless RMS extend their bid period once again.
I think EXU holders that accepted will get their RMS shares in anycase unless the situation changes again in the meanwhile and RMS extend their offer and that’s irrespective of what is written in the RMS offer and bidders statement.
Based on the closing price of RMS on Friday of 40 cents there is a current arbitrage opportunity of 1.8 cents per EXU share based on EXU’s closing price of 8.2 cents. It seems that even the more sophisticated segment of the market aren’t currently interested in this opportunity, another mystery of the market.
Buy 1,000,0000 EXU shares for 8.2 cents, pay $82,000
Accept the RMS bid and receive 250,000 RMS shares worth $100,000.
Make $18,000 if the RMS share price holds the 40 cents level by the time you receive your shares.
