@FY1Well it took longer than expected but finally made their move. The posters here from a couple of years back no longer posting after a "pump" and baited a few on board or were just not aware of strategy of corporate raider?
So they have a newly purchased business, sunk cash an d costs into it, forward ordered lots of ingredients and changed Aussie distributor arrangements - all things that make accounts look down but should produce a better return going forward if managed correctly especially with Easter coming if the new business is up to speed and RL licensing and Bluey . Key management all changed . Yep and as suspected as soon as all that is on horizon the IMO vultures mop it up at a discount and seemingly the company does little to defend - well lets see what a " independent" opinion ( gotta laugh at that) says about the offer?
That is their business and just a shame small holders get caught / trapped and sit stagnant and then get taken out at IMO a discount and gain no leverage to any upside after funding business for years. That's the corporate raider game on a small scale .
Well you could always buy share in the raider - ha ha and see how long before you see a return. Recent profitable deal enabled free cash to make this offer ( which is self funding) although the books use valuations based on initial investment value not current value of investments so worth a closer look.
Business at usual in microcaps on ASX . Good luck to all party's involved , relief to have cash out option exit or small holders ( so lucky they were not offered shares in other vehicle) and upside at little risk to the raiders - that is the usual playbook IMO. Thos ethat remain will be in a worse minority holder position
(20min delay)