Not sure after he goes... Will the new controller really care what the share price is or will they be happy to mop up shares using the creep rule - I am not even sure if the creep rule applies after 53%. I always thought that this was a takeover target - I just never expected LA to sell but want to keep me locked in. I misread that play. I don't think you are in the same boat with a private unlisted company.
There are far too many unknowns:
1. A mentor said to me when someone makes a strategic move look at what they say closely because often there are hidden messages. The one that bothered me is that the new owner wants to keep their stake relatively at the same levels - really they can decide that now - given they are unlisted they have already flagged where they believe they should be.
2. Are you all in a pot of water being boiled - add two directors LA still there but he has told the world he has at best a decade ... I think less in reality - it was my business partners one concern ... really we are going to invest in a business controlled by a 90 year old - my response so someone buys me out I make a profit. Into the future its logical that LA wont be there for long... Then you have a few paid directors and head office in Europe. This smacks of keep as much the same as before - nothing will change - yes everything will change read between the lines.
3. A long term strategic employee left - he must have decided AGI was no longer for him - should investors not do the same or at least consider stopping the sale and rather saying that if you want the company make an offer for everyone including LA stake at say 60% of each holders shares - LA may well change his mind then...
I as an ex holder have held enough of the airspace I hope it works out for all shareholders but the rules about offers to minorities were put there to protect minorities why should you just waive them so a shareholder can sell out at more than you can sell out at. Some people will buy thinking a competing offer may come - even flagged by directors ... but in this market it may not happen so really the price is what it is because people dont see or cannot access the control valuation. Goodbye to this forum I wont be buying into this again.
AGI Price at posting:
$2.30 Sentiment: None Disclosure: Not Held
