While it is great that we have got to more than 10% of the shareholding, we should be aware that SLR can waive the 90% condition at any stage. Based on the SLX side deal SLR's true minimum target appears to be 38%. With this shareholding they could control the EGA board and run EGA to the benefit of SLR and not the minority EGA shareholders. This requires only 20% more shareholders accept.
Please keep sending the emails. There is plenty going on and this fight is far from over. While I have no in principle objection to a TO from SLR (there are lot of potential synergies), I don't think it should be done in a deal where SLR gets the gold mine and the EGA shareholders get the shaft.
EGA Price at posting:
33.5¢ Sentiment: Hold Disclosure: Held