I'm sure there will be a TO, my preference would be shares rather than cash, then I get to choose when to pay the CGT, however, there are complications to a Scheme, first IGO would need the agreement of Zeta as they have the blocking stake. Or IGO could play hardball, make a low- ball hostile bid for PAN and only get 51% then they have effective control. IGO know they control this game, I don't see how anyone else can bid, so no take-over premium, we could languish un-loved for years. Very disappointing as I'm sitting here very heavily invested and deep in the red.
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