As I have posted previously, only Tony Sage agreed to sell us up for $60ml.Did you or I authorise him to sell YOUR shares for something like 42c (after mis-leading all at around 50c - ie he chose to not mention all the options which can , and will be exercised)
He supposed that we will take the money and they have all dragged it out to piss everyone off to get out asap with a min payment .
The whisper is that there is ANOTHER deal within the deal struck with fellow director and good friend Peter Landau.
Recently a syndicate with around 45 ml shares told TS of calling an EGM to get rid of the board and he promised good things to stave off it happening and give breathing space to save their bums... fancy being sacked by your own S/H's and the the great press it would make and a new board finding out all their secrets and deals !
Same syndicate will be "big" out of pocket and may vote no ! and are talking about a full investigation into the deal afterwards.
After all, the S/H's have to vote to sell- out to NKWE.
If S/H's are not happy, vote no !! and go for a better deal.
As some keep saying , all the parties need our 15% to go forward so let them re-negotiate and pay to please us !
Strange once we got 'sold' by Tony no more drilling figures , last one was around Nov 08... I guess it's not in best interest to prove up more plat. in the ground for us to mull over and talk about only 42c !
Remember... the 15% is owned by us not Tony to sell for us!
Enough deals have been done with mates etc in IGC/CFE & GFE at the expense of S/H's and the share price.
For me it's NO DEAL !
JRB
IGC Price at posting:
24.5¢ Sentiment: Hold Disclosure: Held
