Only one scenario bothers me scott and I've repeated its mechanics often enough, it hasn't changed . An unconventional TO is one where there is no bid, instead there is a steady erosion of share holder equity in favour of a predator. It is unpleasant, unpalatable and perfectly legal. The springboard is an acquisition of a stake in the company that exceeds the TO full bid thresh hold, which IMC is about to do (I'm not saying they are bent on a TO). I understand that my scenario sounds very negative compared with management's positive view of IMC's 'investment' in the company. I want to keep the scenario in the discussion because it has the potential to accelerate value destruction and i believe it brings a high enough level of risk for holders to consider a no vote. As i have stated before I do not believe that a no vote will mean insolvency, both IMC and management have far too much at stake to let that happen. A loan would not require a SH meeting and that's what i believe will go ahead if the vote is no, without the accompanying unfair transfer of equity.
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Mkt cap ! $292.1M |
Open | High | Low | Value | Volume |
18.5¢ | 18.5¢ | 18.0¢ | $21.42K | 116.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
21 | 837407 | 18.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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18.5¢ | 850479 | 5 |
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37 | 3272500 | 0.175 |
45 | 1994453 | 0.170 |
23 | 1001312 | 0.165 |
29 | 1007288 | 0.160 |
Price($) | Vol. | No. |
---|---|---|
0.185 | 850479 | 5 |
0.190 | 842400 | 13 |
0.195 | 419409 | 5 |
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