Info taken from CTP announcements:
14/11/2016 mb makes offer
21/11/2016 mb allowed in dataroom - why??
24/11/2016 ctp appoints defence adviser ( rc realises he made a mistake in allowing mb in dataroom)
20/12/2016 santos sells mereenie to mb (with help from the information gained from the data room)
10/3/2017 board has no option but to comply with the terms of the takeover bid due to previous arrangement with santos.
My questions is this ethical? Is it legal? Did our management act in the best interest of shareholders? The deals that have been made by rc are terrible! Have put the company in an uncompromising position. Furthermore being a lawyer and a lawyer in the gas and oil industry he should have know better (imho). As for Mb, well? First I thought it was because of funding, but it maybe because of the terms of the Mereenie purchase - we will probably never know. Not sure if the Mereenie terms transfer to MB when they purchased it. The above is just a theory that needs to be looked into and passed on to the ctpsa. All is my opinions based on the information provided.
DYOR as always!
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