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52.0¢ egan street resources limited

Ann: SLR: Silver Lake Extends Egan Street Takeover Offer, page-9

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PMAC55

4 Posts.

27/10/19

11:32

Post #: 41085485
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Originally posted by Mozzy: ↑

I think SLR are just hoping they have another share price rally and more EGA SHs are encouraged to accept.

I don't think I'll accept the current scrip offer regardless of what the SLR price is. You can see how much of a yoyo their shareprice has been. Look at a 2 year chart.
If I accepted now the offer could be worth sub 25c or 40c+ by the time the offer closes.

Who could possibly accept such an offer in their right mind?

Possibly one of the worst negotiated TOs I have seen from a BOD. They can't be seen to acknowledge SHs want a better offer or they will trigger the $500k break fee.

I don't think it has worked out as well for the BOD as they were originally expecting.
Although Messrs Ducler and Franker managed to somehow to get their performance rights "triggered", the generous scrip offers for the options never materialised and the BOD as a whole only ecercised a portion of their options, 2m total.

I don't think the BOD will be looking forward to the AGM.
I hope they aren't just going to continue the SLR narrative.

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I just went back to research. Taylor Collison had a near term projection worth of .62c per share,in 2018. WTF does .26c mean as an offer !! Bloody brilliant by SLR F. awful as a sale for EGA.
PMAC

EGA Price at posting: 30.0¢ Sentiment: Hold Disclosure: Held
4 Upvote

0 Great analysis

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