My take would be that NST have had this as a scenario for some time and some on the board would have been well aware that it was likely that NST would take control of EAR. In what form all this takes we will have to wait and see, I suggest that by the time this hits the press the EAR board would be supporting the change in control, with all the usual compliance speak, "we considered it vary carefully, in the best interests of shareholders, fair value" and all that usual crap to cover the truth "we are so f$!@% ecstatic that we personally have won lotto we don't have to do anything much, yet we will get all sorts of goodies for a very long time, we love the new nice fair value owners etc etc.
I guess the fair value question will pop up and some kind soul will put up the WAP numbers and show the good folk what a massive premium to the WAP is being offered. Seen it all many times and in some cases I have been surprised at "stuff" that has popped out of the woodwork to improve my lot. I should not be at all concerned, I bought EAR to be bought by NST, it looks likely that I will get exactly what I expected and make good coin largely because I have a very low average, helped by some plonker way back who folk were listening to about this going to 4 cents etc.
Sure I am being a little facetious, but you follow my drift, it would take obstacles to the smooth change of ownership that NST are likely to get, blocks on the register others bidding or the BOD being stronger than expected. Are Dr Alistair Cowden and Mr Victor Rajasooriar more than handy simpletons for Bill Beament’s Northern Star ?
They will both read this I have no doubt, we would all be amazed at how much time listed directors spend reading HC, sensibly few ever place a font here so we will never know what they think in these channels.
One day I will see a board who have the gonnads to surprise me, but hold my breath, I shall not.
Cheers
Phil.
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