As I understand it CHAMP now has about 80 pct having failed to take out the minorities at 16 cents.The retail punters hold about 6 pct with the rest largely in the hands of nominees.
It seems there will be an underwritten rights issue at 16 cents.One assumes most will take it up leaving the shareholding percentages largely unchanged.
Why does'nt CHAMP make a reasonable offer to take out the minorities.The share price has now run to around 40 cents so a decent offer pitched to take it over 90 pct should see it able to take out the company,fix it up and bring it back to the market in a couple of years.
AUN Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
