Apoel....Since you are a non-holder I am not really interested in your opinion on this matter. My view FWIW is that this lowball bid is to test the market reaction and to see if a counterbid , be it cash or paper, emerges in the next few weeks. The current bidder can then decide if it folds or comes back with a higher bid. Worth reading the latest Quarterly in some detail and opinions of Canaccord and others.
Ann: Receipt of Non-Binding Indicative Proposal, page-91
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