Well just when you thought it was all over out comes a new conditional offer by Edge Equity at $0.60 a share. What are they thinking? Minor now hold over 60% and at the end of the day they are the ones that are going to have the final say. Given that the offer is highly conditional i.e. FIRB, Finance and Due Diligence, can it be serious. I guess all it is going to do is drive the share price up to $0.60 in the short term. If minor holds on to their stock and Edge get say 40% are Minor going to be happy with a leveraged partner sitting there holding 40%. Given that Edge will not be able to drive the payment of dividends how are they going to service their debt.
Given the fine track record of leveraged companies and their proven ability to run operational businesses such as Oaks one has to be concerned long term.
Have the current board done a deal to pay them in the event that they don't proceed? Good to see the Board going down fighting.
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