And that means that there is another 11,200,000 shares that will be voted in favour of the takeover bid by SOL.
Hence why SOL, IMO, had nothing to say about it. A little bit of grease in the squeeky wheel, always help.
IMO this Board has totally lost it, and only think about themselves, not the shareholders. After all, we have plenty of cash, we have cash coming in every day of the week, we keep on coming up with good drilling results, and they still want to sell us out to the first company that walks through the front door.
It would be very much appreciated if they were to tell us the reasons as to why they decided to go down that road, or at least get an Independent Expert to prepare a report telling us if the offer is fair or not, but No. NOTHING.!! Silence Instead.
I received a phone call from a woman a couple of days ago asking me if I was to sell into the offer, and I told her I wouldn't. She ask me as to why, and I told her that IMO the offer was too low and that it didn't take in full consideration all of the assets we owned.
I then told her that I was more likely to consider it, if they were to at least return the cash we have on hand to the shareholders as a special dividend, and she said she would pass that on.
It appears that SOL is trying hard to wear us down by extending the offer now.
As to why there are many investors accepting into the offer when IMO the offer is so low that it is ridicuolus, that I fail to understand and I am unable to put a reason to.
One thing is for sure. And that is that if this will get through, I will try and remember the names of the Directors we have in the current Board and the Executive MD for future references. And that is that I will try my best to stay clear of any other company that they are, or will be involved with, in the future.
Good luck all.
EXS Price at posting:
26.0¢ Sentiment: Hold Disclosure: Held
