"The offer remains subject to defeating conditions," which we can see by Maxotel owning over 50% they cannot meet. What are they thinking? Why extend an offer that is clearly doomed to fail?
It’s apparent that hardly any Vonex shareholders have accepted the Swoop offer since the last substantial notice almost a month ago, based on that notice, they secured approximately 6 million shares but seemingly no further progress since so this seems pointless if there is no momentum.
Is this reluctance to withdraw the offer simply because the management and board cannot admit defeat?Meanwhile, the Maxotel offer now expires before Swoop’s, leaving no exit for our investment unless an extension is done. This would lock in the millions spent so far.
This situation is starting to look alarmingly negligent on the part of the board. How are they acting in the best interests of shareholders at this point? we need a explanation for this commitment from them and whoever is advising them! Does anyone know who the advisors are?
The only ones winning here are the advisors, the board who just got a big pay raise and CEO with his 750k /year. Meanwhile we are down to the lowest prices since IPO.
Add to My Watchlist
What is My Watchlist?
