What a failure of an announcement!!! MIG which I said was a SELL, is now largely at the behest of whatever it can get for the small amount of shares given to it in Solaris. No matter how dressed up, basically the Company is worthless and will now be a holding company with a spurious value for its new shareholding. No cash in the vehicle, will still have to pay directors and others and look for something. Basically becoming a shell as the Board and management have failed again.
Share rewards almost the same amount given to shareholders in MIG are to be given to staff, Board and management - certainly seems unfair!!!
Solaris trades at 0.006 in the US, so shareholders getting a potential value of $30,000 for the undertakings of MIG.
I think everyone is better off taking the liquidation. This looks to be an incompetent deal favouring insiders.
MIG Price at posting:
4.4¢ Sentiment: Sell Disclosure: Not Held
