Hi Gotta,I have to do some more research into this but my first...

Hi Gotta,

I have to do some more research into this but my first impression is that the offer is derisory. By their own admission Lochard will be putting in 80% of production and cashflow but the price they are offering is way below fair value. I can only assume it is because they think that Parkmead is way under-valued also. Need to have a closer look at the numbers.

I am also a subscriber to a tipsheet in the UK who had recommended Lochard shares and they have said they are going to look at the offer in more detail and send an update, so I will post that here as well.

From what I remember Peter Youd and Hendersons had previously said they thought the company was worth around 15-20p so why are they accepting/recommending 5p now.

I always thought that the company was likely to be taken out for a lowball offer of 10p (and have posted these thoughts on here before), but I never thought someone would get a 5p offer past the directors. Something smells fishy in Lochardland.

Mackec