Both companies (IAM and the MOU2) have done all they can in preparation for the board meeting, and they are very bullish that they could not have put together a better paper/presentation (or whatever you want to call it) to the board of MOU2.
IMO whilst it is quite likely that it will be signed off in December, I don't think we should be counting on the MOU2 to be signed in December. How often do things get to a board meeting with employees thinking they have covered off all basis to have the board bring up other issues that were missed, especially for a change that is as large as this.
From memory in the roadshow PC mentioned that one of the board members were part of the compliance/risk team, and this team was a major contributor to this process. This is what gives me confidence that there is a higher chance it will get signed off in December because part of the board has been involved and I would them assume that the majority if not all are totally across this project. If it is to not go through in December, I think it will be because some of the board members are not across the project and may raise other matters that have not been thought of (although I think both MOU2 and IAM have done a good job of bringing up any issues that may arise - PC did mention this that even IAM have raised issues for MOU2 to consider).
I think it will get signed off in December, but we may be setting ourselves up for a let down if we think it's a given.
IAM Price at posting:
4.4¢ Sentiment: Buy Disclosure: Held
