The company's management/ board have failed to bring any of their projects into fruition so in my opinion, this is the best outcome for all shareholders. So finally, a good decision from management but unfortunately after so much shareholder value has already been destroyed and after so much money has already been wasted on directors salaries who have nothing to show for.
I do agree however that ELK are selling because they have no choice and a forced sale is never the best situation to be in. However, i do believe that we will at least get more for Grieve than what the company is currently valued at. So fingers crossed, im hoping that i will be able to at least get my money back.
What a disappointment this company has turned out to be.
ELK Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held