I would say the deal is done. There would be serious inside-info questions if BTV have sold stock 2 days before the end of due diligence is completed, and the deal does not go ahead. Remember, Durack a director of THR is also Managing Director of BTV.
I think the whole selling issue is a concern, especially the way it has been managed. I dont understand, as someone menitoned, why with all the THR demand, that an off-market transfer couldn't have been organised with interested parties.
Why sell now? Either they need the money desperately to finalise their deflector project, or management have decided that selling now BEFORE announcing take-off agreement will e better for the company in the longer-term. I seriously question, if the latter is the case, the integrity of BTV directors in terms of looking after their shareholders.
Anyway this is all theoretical,we'll know within 2 weeks whether the deal is done or not. This sale of shares has created alot of nervousness, and in my opinion, is a great accumulation point as I do not believe anything has changed fundamentally at this point in time.
THR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
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