Snapper, bidders statemend will be lodged with ASIC mid April then sent out to AZH shareholders end of April, with late May being set as the earliest time of completion. All spelt out in the offer annoucment.
The offer was set at I try share for each 5.695 share AZH share which at the time the offer was anounced TRY was $2.48. Since then TRY shares have droped while AZH has risen, funny another at the current AZH SP you would be picking up TRY at a discount assuming it goes ahead so maybe that bit of risk is being factored in.
Anyway I don't hold AZH but do hold TRY, I think this is a good deal but unfortunate the market has not reacted in a positive manner for current TRY holder.
Market is not rational or logical, 6mths ago TRY SP was $5, we have improved production, increaced cash in the bank to $42m and completly debt free and now with the AZH TO you would think it is all upside.
question, page-2
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