All potential offers once tabled with the board become formal and must be presented to the shareholders. I would have to look deeper into corporate law, but I do not believe Mac can put a binding withholding time period on the another companies management while considering a take over offer. It would only be a stunt of bluff n bravado to try and convince shareholders this deal is best. I am certain the binding withholding period only commences once the agreement is accepted and signed upto and including the actual date of sale or 'handover'.
Happy for a corp legal eagle to confirm refute this.
Serious consideration of this offer must be undertaken, do not blindly follow the boards recommendation or follow your favorite HC poster. Time to do a bit of deeper thinking, on face value though it really does seem the shareholders/investors in the company are going to lose out significantly.
I do have one thought or question for the skeptics among us, what are the details of the boards shareholdings with this takeover? As I have heard a rumor (that is all it is - heresay) that RC is not the only board member that is being offered to stay on after Mac take over. I wonder if they will have to sell their shares or will they retain these as part of their salary package, meaning that once CTP realises its full gas potential they will be able to cash in these private shares meaning RC's 3mill shares for example may no longer be worth the $600k they are now, they could be conservatively $6mill+++++or even $30 mill like his QGC effort. Purely speculation, but one has to wonder the motivation for the board to so willingly agree to a pathetic 2.5c increase + a speculative of 0-19.6c (the key being 0c).
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All potential offers once tabled with the board become formal...
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Last
5.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $40.24M |
Open | High | Low | Value | Volume |
5.4¢ | 5.4¢ | 5.2¢ | $22.38K | 420.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 380539 | 5.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.5¢ | 123906 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 380539 | 0.054 |
3 | 62980 | 0.053 |
4 | 643012 | 0.052 |
3 | 840000 | 0.051 |
3 | 500000 | 0.050 |
Price($) | Vol. | No. |
---|---|---|
0.055 | 123906 | 1 |
0.056 | 15000 | 1 |
0.058 | 6030 | 1 |
0.059 | 326120 | 2 |
0.060 | 150000 | 2 |
Last trade - 16.10pm 11/07/2025 (20 minute delay) ? |
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VIRIDIS MINING AND MINERALS LIMITED
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