As I understand the offer was to relist it for 1.8b not a cash offer. They were going to pay something like $300m to repay debt to MikeFQ , administrators and any other creditors including taxman in exchange for 300m shares then relist it for 1.8B with existing shareholders getting to keep their shares. But certain parties were probably not happy with that because they were unable to do any under the table deals and went ahead with the secret deal with CE.
A40 Price at posting:
8.2¢ Sentiment: None Disclosure: Held
