"Like everyone else, I am staggered.
The question is : why are the Directors selling out at this level?"
This is the bit that gets me
Its not the opportunistic low ball offer that surprises me as thats to be expectec by a bidder wanting the lowest price possible, its the fact that the directors and in particular IM is rolling over and taking this offer
"Directors of Cradle and other substantial shareholders of Cradle (Arredo Pty Ltd, Aviemore Capital Pty Ltd, Alba Capital Pty Ltd, Mr Brett & Michelle Mitchell, and Edwards Family Holdings Ltd), holding in aggregate 45.5% of the voting shares, have stated their present intention to vote, or procure the voting of, all of the shares held by them or on their behalf at the time of the Scheme meeting in favour of the Scheme, in the absence of a superior proposal."
I really feel for long term holders here, Ive only been here a few weeks and Im very very disappointed with this outcome so cant imagine how you must be feeling
CXX Price at posting:
31.8¢ Sentiment: None Disclosure: Held
