Another goodie. I have seen a number of these type of "the price is not fair, but it's in the best interest of shareholders" reports now. Each time, I am gob-smacked by the feeble excuses given to justify that.
Once I was so irritated, I wrote to the Independent Adviser asking a series of (somewhat scathing) questions about their analysis, but of course no response. In that instance, I held the shares and sold out at about 2.5 times the original offer price - but the company in question was eventually crippled by its (perhaps pissed off at not achieving full control) new majority holder.
Anyway, I'm sorry to leave this one, but I am going to try and exit here. There are plenty of other safer places to play and I'd rather wear brokerage than the silly fees and spreads I'll wear when I have to bank an AUD cheque with an aussie bank (in NZ).
UMS Price at posting:
94.0¢ Sentiment: None Disclosure: Held
