Charchar ,
I'm based in the UK so no complexities holding an AIM listed stock for me .
As a market I don't like AIM and feel it is worth taking a currency conversion hit in order to get the far better regulation of the ASX .
That said in this case IGAS are a reputable outfit .
It must also be remembered that although Dart's restructuring saved the company it came at a cost of reduced operational capability .
The value of a script based takeover/merger is subjective and will only become clear years down the road but the two companies are a good fit to each other .
A better offer doesn't look to be forthcoming so I'm not sure whether Igas's offer does undervalue Dart .
I will be voting yes because :-
- I want to retain exposure to the asset base until it achieves better valuations
- The deal guarantees Dart's shareholders a long term future which they don't have without revenue
That doesn't mean I'm happy with all the details . In particular I will be livid if (when?) the NSW assets are flogged off cheaply to NHC .
In the event that the Scottish Govt cannot reach a decision by the end of September then I think Dart have to exercise a bit of brinksmanship and push Igas to complete .
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