In a twist of fate (and good timing) I spent my weekend sitting...

In a twist of fate (and good timing) I spent my weekend sitting in a lecture theatre finishing off the last subject of a masters degree.  The subject covered IPO's and equity capital markets with about 2 hours devoted to back door listings and another 2-3 hours discussing the contents and legalities of prospectuses. In between wanting to jump from the 5th floor window to escape, a number of interesting bits of information came out that got me thinking about the SRT situation.

A key requirement in releasing a prospectus to market is that all directors must sign off on the contents. I would assume each individual director would have their personal lawyers look over the document and it probably would go back and forth a few times.

I think the hold up may have something to do with the appointment of MR and wanting to get his sign off which could take a number of weeks once lawyers get involved. I know the new directors (MR & co) aren't actually directors until after the acquistion is complete but I would be very surprised if they weren't asked to approve a prospectus.

I'm probably way off the mark and apologies for my rambling, it's been a long day and I'm not sure my brain is fully functioning