I find this announcement is really good news for shareholders. The Board has done the right things by first rejecting the 23c, and now at 25c saying "We're open for business". Really important to note the words "non-exclusive" and "no superior proposal emerging".
Goldman Sachs has a clear mandate to go out to the world and find someone willing to pay more than 25c for Genex, and a bidding war will ensue. That's *exactly* what we wanted to see - not some cheap opportunistic bid taking it out.
Some may be disappointed that you wanted to be a long term shareholder in Genex, but the reality is that management and the Board have been selling out shares and diluting shareholders for years. The risk that they were going to continue doing that seemed high still - so I personally find this a 'get out of jail' ticket in some regards. My hope is that they can get this materially higher to 34c.
I find this announcement is really good news for shareholders....
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Last
26.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $367.0M | |||
| Open | High | Low | Value | Volume |
| 27.0¢ | 27.0¢ | 26.5¢ | $1.537M | 5.700M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 33 | 31741663 | 26.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.0¢ | 15648906 | 150 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
26.8¢ |
Change
0.000 ( 0.93 %) |
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| Open | High | Low | Volume | ||
| 26.8¢ | 27.0¢ | 26.8¢ | 416679 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| GNX (ASX) Chart |