yep, on-market bids are always unconditional in practical terms.
i posted that way back when the bid was announced - so no news there. I recall also highlighting that once s/h accepted on-market, then thats that- no chance of benefitting from any increase in the offer.
Beach get all the luck imo - the drop in Wall Street overnight almost certainly would have caused more s/h to sell into the Beach offer.
Thats "new info" to come from Beach wrt PEL218 is really interesting issue.
What if that info is really important? what if its really price-sensitive stuff, like news of terrific flow rates etc???
If it is, ADE s/h would need to ask whether Beach was buying their shares based on Inside Information??
Now Beach has form wrt trading shares at times when sensitive drilling news is imminent !
they will claim that they complied with all the rules.
I hope that ADE directors start really yelling loud and clear if Beach suddenly come out with important news at this point in time - ie after Beach has secured control of ADE.
Because some of you guys have sold at 20c, and maybe if you had the latest info, you might not have sold??
cheers
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