exs advise sol offer inadequate take no action, page-29

This is the part that I really liked and didn't surprised me at all:

"Given that it had become obvious that Ivanhoe was likely to try and dispose of non-core assets, Exco management commenced discussions with Ivanhoe about an orderly sale of its shareholding. In this regard, a proposal was put to Ivanhoe to sell its shares to a range of investors. Rather than proceed with that proposal, Ivanhoe entered into an agreement to sell part of its shareholding to Soul Pattinson and has committed to accept the offer in the absence of an alternative proposal for Exco that is superior for Ivanhoe.

Your Independent Directors believe that Soul Pattinson may now be taking advantage of Ivanhoe’s need to sell to take control of Exco at a price that does not fairly reflect the underlying value of Exco’s assets.

In the opinion of your Independent Directors, the price at which Ivanhoe is now willing to sell does not provide any guide to the underlying value of Exco shares."


End of quote.

Now, we can notice that our Directors approached Ivanhoe to sell their shares in a way that they could have been superior and more beneficial to Ivanhoe, to the way they chosed to do things.

Yet, they decided to do it otherwise instead. I am wondering way.

On that announcement, there is also a mention about the part that SOL's subsidiary Copper Chem is indebted to us for not paying the due Royalties, and that, IMHO is another reason why SOL has taken the approach of doing a T/O of EXS on the cheap.

What a better way to do thing lol. If they are successful they will get our cash balance plus they wouldn't have to pay us for the due Royalties, and then they will end up getting all of our other assets, for free.

IMHO, The Board has done the right thing in advising us not to take any action and getting some experts in. The experts will advise what is good for us and what is not.

Buddy