i agree with you mate.
Xingang Resources is a serious company, further on that is with the NEC deal was they wanted to be a long term investor in NEC with 13% stake. Unfortunately NHC knew NEC was undervalued thus launched a hostile takeover for a really cheap price.
Xingang refused to accept the deal from NHC resulting NHC having a 80% stake, Xingang with under 13%, and minority holders holding the rest. With NEC having a NHC dominated board it makes no sense for Xingang to continue holding NEC with no board representation and no say in the company. So they took the opportunity from NHC's 2nd offer to eat up the shares of minority holders, which obviously makes sense.
Now Xingang is cashed up, ACS should be any problems in terms of financial commitment.
i agree with you mate.Xingang Resources is a serious company,...
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Mkt cap ! $2.838M | |||
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