Goodaye Buddy, "In the case of BPT's offer, it was never the case that BPT was going to return the ADE shares it bought on market. Hence why the offer was unconditional from the start."
thats simply not correct.
The reason why the Offer was Unconditional is that it was On-Market. And all on-market must be unconditional, and must be for Cash.
The big difference here is On-market vs Off-market. It is only Off-market which can be conditional or Unconditional.
And as we on HC have pointed out, in fact way before the ADE directors did, was the fact that once ADE s/h accepted BPT on-market, then they were stuffed.
BUT - the important thing here, in my opinion (get own advice) is that now BPT has over 50%, the GAME CHANGES for those s/h who remain.
If you are still holding, my thoughts are to keep an EAGLE-EYE on the directors, and the other eye on that closing date.
cheers. (LAWS CLAUSE: don't even own one of the buggers!)
ADE Price at posting:
20.0¢ Sentiment: None Disclosure: Not Held
