I am not an ELM shareholder anymore but I am really sad if ELM is sold at 66c. It deserves at least $1.
This disgusting takeover offer was all planned 2 years ago. Some of you might remember me, Buccaneer and Radioactive were fighting against the management of I Stalker on ELM threads here for bringing back Garry Thomas and Mark Jones back. But it didn't happen.
This fall of ELM was the job of Ian Stalker and Pala I believe. You can see they are the first guys who accept it. There might be a relation between Dingyi and Pala/Stalker.
It is highly probable that there is Pala behind Dingyi despite Pala might be saying they are disappointed by their ELM investment and they want to sell. I wouldn't believe it.
I think the board will recommend the offer. Most probably Pala has already make the fine tuning in the board that the board may say that they have no other choice but to accept the offer.
I think there is also a scare campaign about ELM's sp which is already triggered some time ago. It is too hard to have good recovery because of that.
I believe if the big shareholders; M Jones, G Thomas, South African guys, MacPherson could come together they could do something about it before its too late (but if it might be already too late).
This is a shame for all those guys above.
K2P Price at posting:
46.5¢ Sentiment: None Disclosure: Not Held
