Many thanks for the insightful comments. I really wish I could have been there after carefully printing out pages of Prospectuses and Annual Reports etc... all last night, my hardwork came to being stuck behind a desk at work all day. I didn't get a chance to say g'day to you at the ESG AGM and thought I would have taken the opportunity today - not to worry there's always next time.
Did anyone ask 'whose idea was this?' - that would have been an absolute pearler! :)
Was there any talk about alternative valuation methodologies? Clearly the VWAP has lead to an outcome that undervalues OIP. GGX could have been 2 cents, 5 cents (current price), 10 cents or even a dollar and at the end of the transaction we'd still be acquiring between $3.7mil and $6mil worth of assets at a cost of half our company's capital. That is the simple truth of the matter and trying to dress it up as anything else is thinking shareholders maths abilities are sub kindergarten grade.
Cheers,
JT
OIP Price at posting:
10.0¢ Sentiment: None Disclosure: Held
