I have held off making any comments on this matter but in light of some of the passionate and potentially short sighted views expressed in the last couple of weeks on this thread, I will make one comment on this sorry saga. Like all MYL shareholders I think the Hartree deal is a sh*t sandwich and I am not happy about it in the least. I have a very large part of my assets invested in MYL and to see it drop and also not able to trade for nearly 2 1/2 years sticks in my craw. But seriously what are our options????
There appears to be no other funding sources available and if the EGM resolution concerning Hartree funds is not approved what are the consequences?? We might have a small and fleeting moment of feeling good about spiting in the eye of Hartree but I suspect it would be a very short and pyric victory and we will lose the main battle which is to see MYL stay out of administration and to move to sustainable and profitable operations and the chance for it to relist and trade again and to ensure that our MYL investment is worth something. Hartree can't lose even if the EGM vote is a NO vote. If MYL go into administration, Hartree are the main creditor and will again end up having full and sole control of the asset and we as shareholders are done and dusted.
At least a YES vote keeps the company alive and us all with some chance of seeing it relisted and our shares tradable again. Not at all happy about the situation but seriously, what other realistic (as against unrealistic expectations and dreaming that some other white knight will emerge or that a NO vote will force Hartree to offer a better deal) options are there? if anyone can explain some viable and realistic alternatives I would seriously love to hear them as I can't think of any and as much as I think the deal is not "fair", it the only one that is realistic and on the table and will stop us from going into administration and losing all of our money.
MYL Price at posting:
70.0¢ Sentiment: Hold Disclosure: Held