Once the remaining 9,874,796 20 cent GWR options have been exercised FAS will only have 22.6% acceptances! NO WAY THEY CAN GET 50% (there will be 110,533,987 GWR heads, only 24,989,678 have accepted the bid)
NOW WHO IS AGAINST THE BID?
~25% already against including Falak, Franckes and the directors who stated they wont accept the offer
+13% the new institutional investors (no investor in there right mind would accept the bid unless they are connected to John)
+~20% small share holders who own less than 100,000 shares
THIS LEAVES ~38% staunchly against the takeover with another 20% also having no reason to accept the offer due to directors recommendations that offer is not resonable leaves ~58% strongly against and 19.4% most likely against with only 22.6% for.
THIS leaves FAS very desperate, harassing phone calls and lying letters didn't work so they have increased their offer from 5 for 1 to 7 for 1, they still have no chance, Kate you used to talk a lot about 1.5 million ounce gold resource now its changed to a cash offer what happened to that? im guessing they wouldn't have increased the offer to 1 for 7 if they had cash to offer, as this increase in the offer gives FAS even less in the proposed merged group.
GWR Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
