Those who have signed up already, even with this improved latest offer, must surely now see that Mosman is very unlikely to be in a position to even influence our company's affairs let alone take control. So why give them your shares when the overwhelming odds are that all they will do is sell them on the open market.
And you in the meantime will hold shares in a company which has neither substantially increased its asset base or its cash resources through the proposed takeover.
Furthermore if you want to sell those shares it is likely to be a lot more expensive than selling your MEO shares.
No I would suggest that those who signed up to Mosman on the basis of a takeover are now in a completely different position.
This is leaving aside the considerable improvements in MEO's own position since this started.
The absolute bottom line for us all, is whether we would want to join a company with such a low working capital base, compounded by a portfolio of expensive early stage exploration projects.
They say they have potential. Well any exploration company has potential until the time that potential fails to materialise.
Put aside relative share prices of the two companies for the moment, and compare their relative prospects, funding requirements and opportunities for growth.
Almost all of us see the answer as a "no brainier" .
MEO Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
