Hey iron mike, I just checked in to HC to get a 'BCI/IOH' update...

Hey iron mike,

I just checked in to HC to get a 'BCI/IOH' update and, in reading back through the latest posts, saw yours of Saturday and your questions. Apologies for not responding.

Fwiw, I can only offer my opinion, so yeah, don't take this as investment advice.

I would first suggest you read the 'Note to IOH Shareholders' on Page 4 of the Target's Statement you should have received in the mail, or alternatively is available to download via this website. The 'Frequently asked questions' on Page 10 are also valuable.

I won't be signing anything until the key date for this deal, which imo, is 12th September. It is the current deadline for Wroxby (ACE/Stokes) to accept the Bci offer. It is unlikely, although not impossible, an alternative deal would materialize once the major holder has signed up. If or when his acceptance is announced, it is probably going to be game over. On this date there should be an announcement to the market (subject to there being no 'Superior Proposal') confirming 'Yeh or Nay'.

After that, the only 'conditions' that could effect the sale is the transfer of the PPA (Port) agreements with ioh, to bci, however it is indicated to be 'low risk'.

As for the rest of your questions, lets wait until 12th Sept.

Unfortunately, it would seem there is 'blood in the streets' around io stocks at the mo with a lot of 'shorting' going on so i would think it would be a very brave CEO/Board that would put their necks on the line for a counter takeover offer of ioh, at this time.

Sadly, in this environment, it may well be a case of ultimately accepting this bci deal and then stashing our 'new' bci shares in the bottom draw until the io price improves. Imo, sure as night follows day, bucklands ain't going to be 'green-lighted' anytime soon.

Good luck to all holders.

Cheers,
Mac


Please dyor.