I think the deal will still happen Vectis have 20% of an illiquid share register or about $12m invested at an average of about 60c buy in.
The guys in charge of Vectis know the property business of EON backwards and have a long history in the same type of business...they want in for when electronic conveyancing becomes the norm and volume means big profits.
Vectis have no interest in a passive investment they want active management and could make EON far more profitable by delisting and running lean management.
Takeover games are being played which is why negotiations are continuing and Vectis have a strong hand currently in this market and it is unlikely another buyer will emerge.
EON Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
