Frogen, I really don't think that it is a sales pitch by BPT. These are THEIR words again.
The Offer to Adelaide Energy shareholders will close on 22 December 2011, UNLESS extended OR WITHDRAWN. UNTIL THAT TIME, the remaining Adelaide Energy shareholders have the opportunity to sell into the Offer and capture value for their shareholding.
"Unless withdrawn". Now they can't withdraw it AFTER it closes. It closes on 22 December, UNLESS it is extended OR WITHDRAWN. If they were to withdraw it, it would HAVE to be before it closes. Just my two bobs worth and again talk to your broker, don't rely on what you read on HC.
I hope that you can get a much better deal, but, you are dealing with a very powerful mob and I'm sure that they are not worried in the least about ADE shareholders.
Why would Walker flog ALL of his shares within hours of the offer??? He would benefit by $850,000 for every one cent increase in the offer, but, he bailed out staright away!!! Your Directors have been out foxed and are now desperately trying to get a better deal for themselves. Be interesting to see what BPT does re the Board of ADE when they get 50%. And read pages 11 and 12 of ADE's presentation at the August Shale Gas Conference, that was the death knell for ADE re their future connection with BPT. Get professional advice.
ADE Price at posting:
20.0¢ Sentiment: Sell Disclosure: Not Held
