Ann: Supplementary Bidder's Statement, page-4

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Chao88

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25/02/19

18:35

Post #: 37561436
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Originally posted by madamswer: ↑

Well, if they said they won’t extend the offer beyond 5 March, then they aren’t allowed to at the last minute come out and say, “Actually, we were just making stuff up so that we could get people to sell to s at $2.70; instead of the offer expiring, we are now going to not only extend our offer, but actually increase it.”

On the contrary, watch for the acceptances to now start flowing in.

Because, after the dismal details of the company’s interim result, once the offer expires next week, there will be nothing to keep the stock supported above $2.70, and it will fall to well below $2.70.

The only hope shareholders have, if they don’t want to sell their stock between now and 5 March, of avoiding a loss from the current price level is if some interloper appears out of nowhere and makes a counter-bid for the company.

And given that the board - in its infinite wisdom - actively did not go out and solicit other offers for the business, and given that no counter-bid has appeared in the months since the Allensford approach was first made, the chance of an interloper appearing is very slim, I’d say.

Unfortunately for shareholders, Allensford has outplayed the TRS board.

The only question that now remains is whether Allensford gets enough acceptances to give them control of the company. Given how open the share register is, it appears that they reckon they will.

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Think your right, basically they have just given TRS shareholders a ultimatum, sell to us now or hold your shares and hope management can turn this fledgling company around, having seen the recent report and outlook, I think management clearly don't have a clue and couldn't care less. They have screwed holders over. Probably best to sell now out and not have to risk capital In this..

I'm glad I have sold.

TRS Price at posting: $2.75 Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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Ann: Supplementary Bidder's Statement, page-4

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