re: Ann: AMMTEC BOARD REJECTS REVISED OFFER F...
It's just another attempt to buy AEC on the cheap. Grab 30%, get at least one board seat, see the figures from a director level and then buy the rest out for $4.50+ and your average will be low $4's.
I remember selling Portman into the Cleveland Cliffs offer at $5 to then see the minorities be picked up at $21. One lone director told shareholders not to sell because they have a very big future, but no, I sold into it.
But this is very different, the board are telling shareholders "the Company will meet its guidance and will provide updates to shareholders at appropriate times". CPB keep banging on that the AEC board cannot be trusted, well we will soon see and if the numbers for the first couple of months are strong, the CPB argument will be blown out of the water.
But hey, CPB know the numbers are good, that's why they are putting pressure on shareholders now, they want to ride this wave without AEC shareholders.
How's this quote from David Macoboy this morning. "We continue to see a very strong pipeline of new contract opportunities over and above that factored in to our FY2011 earnings guidance"
This is a very long way from being over.
Pep
AEC Price at posting:
$3.80 Sentiment: None Disclosure: Held
