"Requires bullzeye Director's acceptances of the Emerald offer (for their shares) to be cancelled if a superior offer is submitted"
So in a situation where there are two competing offers, one with a cash offer of 35c and that's it, and one with a script offer in Emerald equivalent to 30c a share with a view to emerald extracting value out of the bullzeye gold and hence improving the SP, how is anyone supposed to make a determination as to which is superior ? And given the above, are the directors supposed to make a determination on behalf of unsophisticated investors, or do then just lay out both offers and make no comment ? Surely it is a conflict of interest if the parties (in this case the directors) that can ask for their acceptance to be cancelled, are the same parties that make the determination.
Surely, if they stay in, then by defination they are saying the EMR offer is superior.
It's pretty complicated.
EMR Price at posting:
$1.06 Sentiment: None Disclosure: Not Held
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