tpt to takeover jka at 11.2c per share, page-7

Grizzle1,

At least Eve is becoming non-exec chairman which will hopefully limit the damage. Bob Cassie will be MD which means JKA should still have some serious clout in the merged company.

Unfortunately they can't do anything about the geology of Morocco, which is my major concern. The merger provides security for TPT holders - gives them JKA's assets as a backup if Morocco fails.

But for JKA holders it just dilutes their share 50% in return for a well that is more likely to fail than succeed.

However, they do need minimum 90% acceptance from JKA holders. That is quite high and if people are really concerned, some good old shareholder activism could go a long way.