Ammtec directors were not consulted regarding CPB's bid. Now I...

Ammtec directors were not consulted regarding CPB's bid. Now I don't know if that was a tactical move from CPB's advisers or plain stupidity. With such a high retail share base, the only chance of success was board approval. We all know what happened there.

The interesting point now is that CPB cannot buy stock on-market above the offer price of $3.35.

They have entered into a share agreement last friday with BT Investments for their 729,000. If BT were sure that the offer was final they would have transferred their stock offmarket and taken the cash, but I think the BT fundies can smell more money. In the agreement under Offer Price point (c), it clearly states "such higher amount or improved consideration offered by the Purchaser for the Shares during the Offer Period". If CPB offers more cash, BT will also benefit.

Anyway as for your question regarding asset value, current and forecast profit. This report will probably answer your question better than I can.
http://www.ammtec.com.au/uploaded_files/document_uploads/Veritas_31_May_2010.pdf

It will be an interesting couple of weeks, keep an eye on CPB's share price, its now the key for this deal getting through.

Pep