is sapex a fortescue that is being sold out

This is Mr Lincoln Augustus, first second cousinof Holymagiman.

I have some more thoughts to share with you...the plot thickens........


1. Linc has offered 50 cents for SXPO and 72 cents for SXP

2. The exercise price of the SXPO is 25 cents, so a normal person would expect that the SXP shares were worth at least 25 cents more than the options in any takeover, and even more as they have voting rights bestowed upon them

3. Therefore, if the offer for SXPO is 50 cents, the fair value for SXP should be at least 75 cents or maybe more.

4. As the takeover is taking place within the next couple of months and the options will then cease to exist, it is illogical to assume that the SXP options have a 3 cent premium added to them because of the remaining time till the exercise date.

4. So why have Linc given a premium to the options when compared to the shares?

5. I feel that this offer of 50 cents for options is a cynical and underhand ploy by the Linc Board (with possibly the compliance of the Sapex board) to encourage option holders NOT TO EXERCISE their options, so that the deal can be rammed through based on the existing share numbers.

6. By following this course of action, option holders may gain 3 cents on the deal now, but they will forgo their precious voting rights by not exercising the options into shares.

7. The 3 cents you lose now by exercising could be worth a lot lot more in the very near future...think of FORTESCUE when it was 8 cents just under 4 years ago

8. I feel that Linc is playing a very devious game and is in effect buying shares (by enticing optionholders to not exercise their options) for just 3 cents each.

DEAR SHARE-HOLDERS, PLEASE THINK ABOUT THAT....ARE YOU BEING ROBBED OF THE CHANCE TO PARTICIPATE IN A FORTESCUE-LIKE PRICE RISE???

I remain
Yours sincerely etc., etc.,
MLA