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Back out? SLR have 30% currently. They can't just reverse them....

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Mozzy

740 Posts.

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23/09/19

18:44

Post #: 40532877
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Originally posted by jogo: ↑

Can SLR back out of the offer if they fail to achieve 90% and return any shares offered? If so, our enthusiastic directors might still be stuck with us and we with them (for a while anyway). Otherwise, SLR will be the major shareholder and can put their own people on the Board, or keep their EGA Judases. Without any successful re-offer then this is the most likely scenario.

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Back out? SLR have 30% currently.
They can't just reverse them. They're a 30% SH like you or I.
Their shares aren't conditional. The offer is.

EGA BOD are at the mercy of 100% of SHs.
Surely 70% are now not too happy with them?

Next few weeks will be interesting.

EGA Price at posting: 28.5¢ Sentiment: Hold Disclosure: Held
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