This Board is so predictable, a loan from Apac effectively give Apac control.I would prefer this board to work a little bit harder to negotiate with Citi for 6 months extension. How convenient just accept the offer from Apac with 8% in fee.Why 6 months??? The shortest time possible.This had been done to diverse shareholder attention from the board, look like they did their job.IN REALITY is they are planning for CR 3months from now, their excuse is the offer for Nifty is not good enough. Well we be left with no choice but to do CR, our cash balance will be under 2millions.The worst case they might Do a credit swap with Apac for 370 millions share @ 7c.Bang Apac would effectively control the board with 41% share.That would put a Brake on any takeover.
MLX Price at posting:
8.3¢ Sentiment: Hold Disclosure: Held
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