VPE may well keep their powder dry a little longer. If I were them I may pursue other immediate value drivers to fire up the share price...PL171 etc new CSG cert...new acreage (from this cap raising) etc...then come back for ITC with a script / cash offer at say 10c when VPE is for example 70c and before the "merger" is agreed upon...as finalisation is some time away yet.
Of interest Market today was nonplussed on BPT's cash offer (reflected in both share price movement).
capital raising, page-40
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