Great! I am not the only one seeing that SOL are using their very expensive scrip (44% premium to NTA as reported 30/06/21) to purchase something at a 10% premimum to NTA. Even though the Millners are major SH's in both entites, SOL's is where they have a majoirty of their wealth tied up. For disclosure, i own both SOL and MLT and have a rough equal weighting in both.
Yes, it looked good (initially) with a 10% prem to NTA + total div of around 52c, but as i mentined, it is being done with very expensive scrip. This will never happen, but a fair and equtable outcome wouldve been using SOL's NTA with MLT's NTA (no premiums or discounts)
Excahnge ratio wouldve been around 0.23-0.25.
As i said earlier, i am a holder in both, but IMHO it seems as though MLT's holders are getting the short end of the stick. Will vote it down (not that my holdings mean much)
MLT Price at posting:
$7.34 Sentiment: None Disclosure: Held
