takeover update, page-6

Cloaka,
The fact they are going ahead with the new issue is simply because they need the cash to keep the business going - management has already said this.
The new issue should be viewed as an interim measure (only) until they can get their books into order so they can present a viable set of accounts to present to shareholders and/or a prospective buyer.
Of more interest to current holder's should be just who is presently standing in the market on the bid to accept all sellers.
Bid was at 16c yesterday and picked up about 700k. Wisely they pulled back the bid today and picked up another 1 mio+ around 14.5c.-15.c and then came back in on the bid agressively.
I could be wrong (and Lord knows I have been before (lol)) but my bet it is either UXC supporting the price ahead of the placement (doesn't really make sense tho), or the spurned buyer trying to gain a foothold (below 5%) before announcing a formal takeover. Or it could be another party for that matter.
As for a potential partner I have no idea, but as for the price I reckon given ITE price history and my valuation a t/o bid would be around (say) 19c-21c.

By the way, where is robbo65???? He was the hero of the ITE thread for so long, along with a whole group of posters that "mysterically" appeared as new members of HC and ITE supporters around 10/12/2006, but have also disappeared of late.