BOT - Anything but charting, page-8249

My experience with TO comes from one I've been in with an Oil and Gas company.
However the TO company already had 19.9% of the company already, so it was inevitable.
A good handful of us held out against the boards recommendation, but inevitably the big end of town got their way.
Was it given away too cheaply, yes it was.

So the way I understand it, say Mr P and Mrs M comes along and present a TO. The board from my understanding can flat out refuse it without taking it the shareholder base.
If the news gets out, then there's more of a push to get shareholder denial if too low, but I think I received approx 4 or 5 phone calls asking me whether I have decided to accept the offer and if not why not. So big shareholders may receive phone calls so the board can understand the sentiments of the shareholder base.

Offer is presented, board yes they recommend - when the allotment accepted over 50% the take over company/s have control of the board, but cannot acquire yet. Supposedly they are supposed to do things in the shareholders best interest, but we know that's not always true.

Compulsory acquisition occurs at 90%, so need to be mindful.

Always best for a TO to be coming from multiple companies, because my example above, as the TO company already had 19.9% no other bids forced the price up

In saying all this, I can't see Vinnie and the board wanting to sell this cheaply, they've worked for too hard to get to this point to throw it away cheaply. What do you classify as a reasonable valuation, back of envelope scribbles are what we can work from until FDA approval and we see the $$$

Good luck, I hope to see either way a share price of $3 to $5 and I will never say no to more

I do honestly believe now it is possible to get there, where after the phase 2 debacle with the testing I had my doubts.

Good luck all