we need a plan b.... yaq? anyone else?

For better or worse we thought ESG was locked into being de facto STO as a result of the 1:14.7 implied scrip swap contained in the ESG Board-endorsed SOA from Santos.

No-one envisaged a global market meltdown like we've seen in the last 24 hours. As a result ESG appears to have been decoupled from the STO share price based on today's closing share prices. They imply more like a 1:15.6 scrip swap which is heading the opposite direction to what we all hope for.... a 1:10 swap ratio or better.

What does it mean? Buyers out there are mopping up ESG shares with ease. Why are sellers so ready to sell at discount prices? Most likely it is pure market forces at work as investors are being forced to liquidate existing holdings. In other words simple supply and demand dynamics. It also implies that a major serious alternative bidder to STO may not yet have played it's hand...... if indeed one exists.

What can we do.... if anything? Yaq was fanatical at coming up with alternative strategies. How soon can we get his input on this? Does anyone else have a feasible plan in mind?