The board try this same deception back in 16-10-08..Jackgreen confirmed it had been approached on behalf of parties wishing to hold discussions regarding the company ownership.
20-10-08 Jackgreen went into trading halt.
shareholders were in the belief that a takeover was on the table.
21-10-08 Announcement.. Jackgreen raises funds for new product initiatives... Nothing about a takeover or approachies from any interest parties.
That deception was just to help raise the funds, And have the investors think a takeover and a quick profit was on the table.
Now it's obvious there is two parts this trading halt (Voluntary Suspension) Capital raising,.&. Discussions and negotiations with interested parties that have been identified in the past few weeks.
The only parties that have been identified in the past few weeks has been the 2 announcements on 2-3-09 HHV and HHL change of holding. So IMO the Capital raising is to buy HHV & HHL off market my guess would be .06 to .10cents. Or there could be a third party trying to negotiate a full takeover but need to sccure the major shareholders off market, Then make an offer to on market shareholders.
The Jackgreen board have jumped the gun by calling a trading halt without having the negotiations on the table frist.
This long "24-4-09" Voluntary suspension has put the Jackgreen board in a awkward and vulnerable position. 1) If this deal fall through or a party walks the board will have egg on this face. 2) My other worry is the jackgreen board may try to "save face" and lower the negotiations level to push a deal through.
All n All this shouldn't have taken so long and the negotiations should of been on the table before the trading halt.
P.S If the CEO Andrew Randall doesn't pull a rabbit out of the hat after 24-4-09 almost 2 months in Voluntary Suspension. "It be time to step down and out Andrew"
JGL Price at posting:
12.5¢ Sentiment: Buy Disclosure: Not Held
