Pumping. I do agree with you. ASIC has now been authorised/ordered by the Take Over Panel to sell all of those shares held by both Aurora and Keybridge within a stipulated period of time.
That will subsequently reduce their total holdings to 20.52%.
And, as you correctly wrote, now MPO has until July 31st current to get invested into an O&G company, or being forced into having to face suspension.
Honestly I cannot see how MPO could do this in time unless they will rush into something but, if they do, and the investment fails, the Directors of MPO could face big troubles for not paying proper and due diligence before investing. As such, and IMO, it wouldn't surprise me at all if we will enter into a suspension mode until the Board will find something which in their opinion will be a good and solid investment.
As to why the previous BOD couldn't come up with some sort of a deal to get us going once again instead of just collecting their emoluments, that we will never know. But IMO when we have Lawyers trying to run a company instead of some good bean counters and Geo's, it is to be expected.
Now we have a different mob and let's hope that this lot will be more proficient in leading us into the home run, It has been so long for me that I don't eve know anymore.
Dyor!!
MPO Price at posting:
12.5¢ Sentiment: None Disclosure: Held
