I think its highly dissapointing that this has happened and valuable funds that could be used to progress feasibility study is being wasted on this junk.
Does anyone know who the applicant is?
AVI is an exploration company. It needs funds to progress project. Equity markets are cracked at the junior end and all shareholders had the oppo
rtunity to participate and reduce their average buy price. Nothing wrong with this in my opinion, only dissapointing fact is that the Takeovers Panel has a bizzare policy of not allowing underwritten offers at a premium - so AVI is, in effect, forced to handover a greater level of control than may otherwise be the case.
My bigger concern is why we have not heard anything about the outcome of the Hannans stat demand that was referred to in the offer document and was due to be heard further last week.
hft?, page-8
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