In fairness, the $0.22c offer is actually marginally better than had one sold on the last day of trading - as this offer does not incur brokerage. That said, I agree with ryan, not only is $0.22 a very low ball offer, the company stated on page 9 of the Notice of AGM, "if the Buy Back is accepted at a rate of 50% ... the underlying value of the company's net assets per share will increase from $0.3919 to $0.59". Therefore, I would strongly advise that if the Buy Back is approved tomorrow, I would not then accept the offer at $0.22c. As the NTA will increase from $0.3919, an improved offer is likely to come in the future as management seeks to "mop up" the remaining shares. Keep in mind, initial offers, in any commercial negotiations generally, are the starting point - improved offers, generally, follow thereafter. Good luck!
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