Presto, have to agree with you. There is more to this deal than meets the eye – this is the first step in a take-over of UNV and the take-over price is a pathetic 36cps. An embarrassment, but I do not blame management for agreeing to this. They must be getting seriously despondent, delivering on all their promises only to be repaid with zero backing from their shareholders - For the life of me I cannot understand that the shareholders on ASX value UNV at $45m odd market cap, while Ichor (poorer quality assets, lower annual production and exponentially lower margins) sits at $350m on the Frankfort Stock Exchange!!! –all this hard work delivering real value only to be taken over by a less deserving entity. But maybe the UNV shareholders do not deserve a penny more.....So, to all you day traders out there getting it off by buying 10 shares at 12.5c and selling at 14.5c, please do not complain when management eventually throw in the towel on this one.....
UNV Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
