A couple of months ago, my intention was to vote 'no' in the hope there might be a superior offer. As the 'Independent expert' indicates in the scheme booklet, this is now very unlikely. They also point out that while the scheme is not exactly fair (close to 20% less value to CPH holders pdf page 82 ) it is reasonable and highly advisable that we take the offer. I am voting yes. The advantages of the merger are laid out on PDF page 17 ( also consider 'Implications if the Schemes are not implemented' on pdf page 20) Two of the most compelling for me:
7(d)The Combined Group will have an increased market presence, greater liquidity and enhanced financial strength enabling it to better develop the existing business of Creso Pharma and PharmaCielo
I also think the fact that they are keeping CPH's Dr Wernli, making her president of the combined company and letting the rest of the board go, might be telling us something. Looks like they are generally a much more seasoned lot over at PCLO.
CPH Price at posting:
34.0¢ Sentiment: Hold Disclosure: Held
