On 18 July 2011, the Company announced it had received written advice from its largest shareholder, Hanlong, of its intention to make a conditional cash offer for 100 per cent of Sundance at a price of A$0.50 per Sundance share under a scheme of arrangement. The Board considered that the terms of the offer did not provide adequate value or certainty to Sundance shareholders, and commenced discussions with Hanlong about the terms of its proposal whilst at the same time continued discussions with other potential strategic partners in a view to securing Project financing through either a joint venture or whole of company transaction
interesting that a whole of company transaction has been a part of the companies view.
Though we have heard of stupid haste in war, cleverness has never been seen associated with long delays. Sun Tzu the Art of War
SDL Price at posting:
44.0¢ Sentiment: Hold Disclosure: Held
