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clock Created with Sketch. 02/10/14
07:34
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Originally posted by Marketscan
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"this should go to ASIC & ASX". unanimously says take up the offer". look at the announcement below, this is telling another story. who knows next thing we might see incentive shares offered to the remaining board members. some thing is not right with yesterdays announcement. do BCPE really want 100%.???? lastly Phil should be gone, he got his severance pay out $3MM. would I have sold my shares the day before this announcement.???? probably NOT, still waiting for elephant oilfield. Nido Announces Strategic Review In the context of BCP Energy Pte Ltd (‘BCPE’) acquiring control of the Company the Board intends to use this opportunity to undertake a strategic review of the business and to consider initiatives to improve the attractiveness of the Company’s capital structure. This review will consider several initiatives and has the potential to include a possible share consolidation and a sale of unmarketable parcels in order to make the register more attractive to investors and to reduce share price volatility. We will keep shareholders updated as the strategic review progresses. Phil Byrne, Managing Director, commented: “this is an exciting time for the Company and we look forward to steering the strategic direction of the Company with the benefit of a strong supporting shareholder.” Phil Byrne Managing Director 4/8 5.5 cents in cash to be offered per Nido share, a 62% premium to 1 month Nido The Directors of Nido have unanimously recommended that Nido shareholders accept the cash Offer 1 . 19.66% shareholder Petroleum International Investment Corporation has Nido Petroleum Limited ( Nido ) and BCP Energy International Pte. Ltd ( BCPE ) have executed a bid implementation deed ( Implementation Deed ) in relation to an off-market takeover offer (the Offer ) for BCPE to acquire 100% of the shares in Nido not already held by BCPE. Nido
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"""Phil Byrne, Managing Director, commented: “this is an exciting time for the Company and we look forward to steering the strategic direction of the Company with the benefit of a strong supporting shareholder.” Phil Byrne Managing Director"" not once did Mr Byrne say the above during the past month or so. it looks like BCPE will not be successful with it's take over bid. now: this is an exciting time for the Company and we look forward to steering the strategic direction of the Company with the benefit of a strong supporting shareholder.” Phil Byrne Managing Director"" boy did I get screwed, I would have said "here we go another 5 years + waiting for that big discovery. I sold because I thought BCPE would do what it takes to secure the remaining shares ie: stuff shareholders around with shares being suspended for some reason like failing to pay annual listing fee's. no updates expect for quarterly reports (that's if they reported them) etc etc. these guys need to be held accountable. ..
(20min delay)