Good on the shareholder that has issued an injunction against WBA today. Why has WBA not told us on what basis the injunction has been brought? What is currently happening to WBA shareholders (excl FCL) is a disgrace.
Roberts has just sold 1.6M shares offmarket to FCL at $1.40. Why aren't all shareholders offered the same unconditional deal? (currently FCL's offer of $1.40 is conditional with monies not being received until at least December)
Most importantly I agree with Sgoni, the directors of WBA appear to be letting FCL get greater control far too cheaply. By my calculations if all the new shares are issued to FCL it will have almost 75% of WBA(and that assumes no shareholders take up FCL's offer at $1.40). WBA also needs to advise shareholders the value of its TGL holding AFTER tax. At today's TGR share price of $3.41, WBA's holding is worth $112M pre CGT and yet at FCL's offer of $1.40 values all of WBA at $87M. Are the WBA directors saying all its businesses are worth nothing? The NED's should be giving some guidance to its shareholders on what FCL is proposing. Do they agree the FCL offer is fair or not.
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