The article does not mention the proposed takeover, let alone how the withholding of information about how the Bouldersomse Battery may have influenced the VWAP of the Genex Power Ltd's share price and "fair and reasonable SHAREHOLDER VALUE". That is not RenewEconomy brief but the Editor is aware of the call for a review by the Takeover Panel and the reasons for that request to ASIC.
The article does not mention the information which has been and is being withheld about the future physical and financial performance of K2H, especially in the context of the $610 million taxpayer funded concessional loan.
Goldman Sachs, if it has done it job, would have produced such information about the important DES, (Distributed Energy Storage), which K2H will become. Information provided to the Genex Board and the so-called Genex IBC. Seems little doubt Electric Power Development Co., Ltd, (Mr Kenichi Seshimo), have this information?
It may be that it is/was not in the interests of the the Kidston/Craven/Seshimo board to reveal such information about future net cash flows from K2H to Genex Power Ltd shareholders?
The bid warrants review by the Takeovers Panel.
GNX Price at posting:
26.8¢ Sentiment: Hold Disclosure: Held
