lets say you are right and that SCRIP was the way to go...but with NKP share price being so miserable and lets say a scheme of arrangement was done at 75cents equivalent merger wouldn' the dilution to NKP be unbearable?
I am sure NKP largest shareholder Genorah may not want to go along with this...or then they have to go along
In my opinion the scheme of arrangement would be cash based to acquire IGC. The method of financing would be a debt or some sort of hybrid security like Convertible note.
Tony Sage may think long term but what about the other major shareholders...would they be ok with SCRIP? or in this environment want the cash. The other logical thing about SCRIP is that you will not have to pay tax immediately.
I called Tony Sage on his mobile (number given thanks to another Hot Copper poster)but did not get anything out of him. I asked him if he preferred cash, scrip or combination of both and he just said NKP and IGC are considering all three. Spoke more on the valuation front and what sort of price figure he could be targeting...his response was "a price significanltly higher than current market price however only once both independent valuations are done will a clearer range emerge"
Still hoping for $1+ CASH!!!!!!!!!!
Just hops T Sage does not muck around and we end up like another CFE debacle that is currently happening
IGC Price at posting:
35.5¢ Sentiment: LT Buy Disclosure: Held
