The logic of holding can be simplified.1. Minor aren't doing...

The logic of holding can be simplified.

1. Minor aren't doing this takeover to just get to 90%. I think everybody would agree that that want and need 100%. The costs of having minority shareholder hanging around and paying ASX listing fees, holding AGMs etc and the general annoyance of disclosure rules while being a public company mean that not getting the last 10% is very expensive for them. They need to get it.

2. Minor will almost certainly move to compulsory acquisition. If they don't foresee that they can pickup a few more percent within a reasonable timeframe by extending the offer once again then they will most likely go to CA ASAP after the offer lapses.

3. The CA offer price won't be less than 52c as they simply wouldn't waist time constructing an argument to try and get away with that. I fully expect that they will try and go to CA at 52c but we will object. They may however choose to offer more to get rid of us. If not initially, after we protest and they consider the expense of going to court. This is the upside.


So I agree with Icurafu. The downside of continuing to hold appears to be very small while the upside could be considerable. As such I'm holding and in no hurry to sign any of the forms they keep sending out.

PS. There will always be those that say we are missing out on other opportunities by sitting on Oaks waiting for a better offer. I've been told this a number of times. In fact I think this was first mentioned when Minor offered 35c. The boarder market is going backwards and at a minimum we have a stake in the ground that prevents us slipping with it. I'm glad I haven't sold to pursue other opportunities as on the balance of probabilities that would have netted a loss.

In fact if I may backup my point, ask the ex-Oaks holders who have sold their holding how the "better opportunities" are faring. I'm willing to bet most wish they still had their Oaks shares rather than what they moved to.

This is not advise but I think you now know what those of us still holding think. Obviously those that aren't holding and haven't been holders through this exercise have a different perspective and thats understandable.