They have little choice. They'll struggle to get 90%.
Many people said that about 80, but it was a given when you saw what was going on. To get the volume for 90% will be harder.
They'll probably close it off with whatever they have now, don't have to pay acceptances any more. Then start running the price up on more good announcements and a few of us turtles will poke our heads out and take what is offered, their associates will mop up that volume, plus WN will buy 3% over the next 6 months. Then they'll launch a t/o for the rest before going compulsory.
They clearly have a lot of deep pockets prepared to buy on market for them. Remember, this has happened since they came onto the register - all their associates taking a position before accepting their nonsense offer the first time.
BRM Price at posting:
$1.96 Sentiment: None Disclosure: Held
