Yes hope it will be reasonably fair? Not in favour of the dilution really. Certainly not before Gigantor is drilled at least. These deals seem to be mostly about Geoff sorting out his affairs. OXX is the entity with the cash. Couple of years back when OXX and Strada were merged to make the present OXX I felt that OXX was sold short. The biggest issue that I had was that the CUE holding was held by OXX, then 36m shares. Deal was done valuing CUE at then current SP. Felt that it undervalued OXX as the CUE holding was a big part of OXX's value. Was hard to argue against at the time in any case as that was CUE's SP at that point in time. However it is not hard to argue that OXX would be in a better position today had the OXX/Strada merger gone ahead. All history and fairly accademic now.
Speaking of dilution I am so pleased that the OIP takeover did not go ahead. We did not need OIP's cash. I believe that OIP did their shareholders a great disservice in not grabbing the offer. When one shareholder dared suggest on this forum that it might be worth considering he/she was howled down. Another story!!
Geoff has a grip on all these Albers Group entities so whatever is proposed he will be able to get the vote through. As you say lets hope that it is reasonably 'fair', whatever that means.
OXX Price at posting:
27.5¢ Sentiment: None Disclosure: Held
