But that Bidders Statement is dated 7 November - thats the date when Beach launched its Offer.
Then on 15 Nov Beach declared its Offer Final. So now Beach cannot increase its offer (and that means it cannot buy any shares on-market above its 20c offer price).
Thus that bit of info in the Bidders Statement has been overtaken by events.
As i mentioned on a couple of previous posts, that now Beach has got over the 50% threshold, its a new ballgame. the variables/options are reducing.
so now ADE s/h know that 20c is it - no more money.
so really, the only issue is do ADE s/h accept now into the on-market offer (ie before 22 Dec), OR not?
imho, the directors opinion is pretty much superflous now - the only reason the wait for them, is IF s/h are considering not accepting the offer, and then hang in there as minority s/h (if possible). mIMHO that avenue would only be feasible if the directors don't sell, and they hang in there with their bigger holdings.
it sure is moving pretty fast. I hope you made a motza. I love people taking money off Beach. cheers
ADE Price at posting:
20.0¢ Sentiment: None Disclosure: Not Held
