Initially I was esctatic at the offer and saw this as a way of making a profit after many years of disappointment and loss as we moved from PLF to BBC and LLP.
But having thought about it overnight, I'm not happy at 31 cents and I think LLC are trying to steal this. What's more, the laws of negotiation say there is more oxygen in this.
Look, at the very least there's got be another 3 - 5 cents in this.
BUT what a downright, low-ball act by the independent directors and whilst I haven't checked the share holding numbers recently, I doubt that any of these guys have their clangers on the block.
If this was boxing, I'd sack them from my corner because I cannot be sure they are working for me..and not my opposition.
Hey guys, I suggest that if you're serious about this, that you email each of the independent directors and let them know of your displeasure and your expectation from here that they will work tirelessly for a better offer.
If they do not agree to pitch for a better offer they should do the honourable thing and resign.
I haven't got time at the moment to get the email details but early tomorrow I will, unless someone does so in the meantime.
It's time for people power to shake a few more sheckles from the giant's (bulging) pocket.
PS., after having re-read this maybe I've been a bit hard on the directors...but the facts are the facts...they have agreed to support an offer that short-changes us.
It's time to say "not good enough, get in there and work harder as we expect a sweeter price".
Declaration: I bought more today at 30 cents.
LLP Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
