StoksaLike you I hold both, but 11 to 1 SXP. This proposal is...

Stoksa
Like you I hold both, but 11 to 1 SXP.

This proposal is presented as a merger btn LNC and SXP with fixed price for SXP holders (72c) and an August price on LNC.for cash conversion.

Two senarios present:

1.LNC appear to get a great deal eg SXP and their share price rockets (include here ongoing upside eg Chinchilla and exploration)

2.Chinchilla's a dud exploration fails and SXP is considered overpriced.and LNC s/p price crashes

In scenario 1 SXP holders are disadvantaged at conversion to LNC and in scenario 2 SXP holders take the cash and run.

This is a takeover with no premium. With no ability for SXP holders to participate in SXP assetts other than at full retail via an August LNC s/p.

What crappolla!!!!!