ricky99..you hit the nail on the head. Excellent post.
I think the shareprice would of got a bit messy if shareholders were offered shares via a spp at $3. Lots of holders would of run for the door and pushed the price well below the SPP offer price.
It's very hard to complain with the price they got. Minmal dilution..50 million in the kitty during tough times which will bolster the current cash at bank, cash in escrow etc. It's very possible that they could of raised cash not too long ago when the price dipped for well under $2.50. Management were confident though..they waited. They got the results and now they got a better price.
Eric and his family own approx 10% of the company. Of course they want the best price..they are getting slightly diluted just like everyone else.
BRU Price at posting:
$3.18 Sentiment: LT Buy Disclosure: Held
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