Historically I have been a supporter of Creso Pharma, but I believe the CPH Board have well & truly stitched up retail investors with this deal, which was supposed to value CPH at A$0.63 per share. This would be the case if the deal was a cash for scrip deal. However the CPH share price has since been on the decline, currently trading at A$0.43, likely due to the fact that it's a scrip for scrip deal as is detailed in their company announcement on 7th June 2019 (see link below), and as the linked marketwatch article below notes;
'the purchase price for the Creso Pharma shares will be satisfied by the issuance of PharmaCielo common shares ("PharmaCielo Shares") priced at C$7.6166 per PharmaCielo Share being the 3-day volume weighted average trading price for the PharmaCielo Shares representing an exchange ratio of a 0.0775 PharmaCielo Shares per each Creso Pharma share'.
If anyone has been monitoring PCLO, they would have seen that the share price has since devalued from C$7.61, and is today trading at C$5.33, which would likely explain the decline in the CPH share price over that period, and why it is now again trading at pre-deal prices.
I'll be voting "No" for this deal and in the absence of a much better offer!
