They can make a takeover bid at any price.
If they get 90% acceptances (bearing in mind Taurus have over 87%, not sure what management have), they can then acquire all remaining shares at that price, regardless of what we think about it.
I am struggling to see the incentive for Taurus and RRP management to have us relisted in a hurry. They are not interested in selling.
We are at an impasse. Taurus don't want to go below 80% and the ASX don't look like granting a waiver on the 20% free float. Something has got to give.
My opinion is that we will get a low takeover bid (below 10c) and assuming they get that 90% then we will be able to do nothing about it.
The longer this goes on, the more I think that management don't really care about us minority shareholders. Just look at their communication skills with shareholders.
I would love $1 a share, but can't see it happening.
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