good reflection. it's possibly the mgmt shares that will cost. so does this mean an acquiring entity can hoover up as much as possible from the open market at say 20c to build a position and then have to pay a premium for mgmt shares? would this include any stubborn holders (ie me) which would sell at the same premium as mgmt and effectively be tied to the same future performance goals (earn out). does that mean lowly punters like us could get bound to some future promise that would likely be missed?
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