wah nam, page-33

WangChung of course they will continue to say to reject... accepting for script in a company whos sole value is the company they are offering script for makes no sense.

Secondly, a lot of holders will have a bunch of capital gains that accepting an offer (or selling on market) would trigger a capital gains event. You can see how only obtaining script in an illiquid company such as Wah Nam would be very bad if you had to sell a lot to pay for your taxes.

My reading of the situation was the board would probably recommend an accept only if the offer was raised to cash and then maybe only a fair price.