Great to receive the interest but this massively undervalues Dart and is an all share offer. Igas has smaller acreage position and is trying to acquire the company on the cheap. Its no surprise the New Hope board recommends the sale.
Furthermore it is NO SURPRISE IT ARRIVES THE DAY BEFORE THE DUAL LISTING WHEN THE STOCK WILL FLY (initially anyway). Dart is effectively a UK company now and UK fund mangers WILL want a piece of the action. Not having to fund in AUD will make it more attractive to them and a dual listing should improve liquidity for all shareholders.
Look at Westside situation (another Soul co.) - buyers trying to get assets on the cheap.
I will be voting no. Green Park, who are already in cahoots with NHC will probably say yes.
They need 75% acceptance. Remember what NHC have done since they ousted the board - sweet F.A. Follow your instincts, this is opportunistic.
IGas are not the only game in town, Dart is an attractive takeover target to plenty of other guys with deeper pockets.
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