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PNA panaust limited

0.00%

$1.84

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Petergm

1,706 Posts.

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14/05/15

13:39

Post #: 15279148
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Originally posted by TommyT ↑

I had the same question yesterday so rang PAN and spoke with investor relations manager, won't name him. He was super helpful and explained the board excepted the offer of 1.85 as they felt even at 1.71 GRAM would take control of company. GRAM at 1.85 now has 55% so they control the company. There are two outcomes from here. GRAM get 90% + of the vote and you get your cheque in the mail in a few months for 1.85. GRAM don't get 90%+ and you hold the shares of a company controlled by GRAM with no control. Share price falls as nobody wants shares and GRAM don't need to urgently buy you out. I sold by the way.

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I am afraid that I have put my long held parcel up for sale this afternoon too Tommy. I made some good dollars out of PNA at the old price before the reduction in shares. But had the fingers a little tinged this time around.

PNA Price at posting: $1.85 Sentiment: None Disclosure: Held
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