AP I'm not sure if the words below, which were lifted out of BNR's letter to shareholders today, are standard in this type of letter.
"The Offer, if fully subscribed, will not of itself result in any change to the control of the Company."
The CR is expanding not shrinking the issued shares in the company.
Maybe MAT has spooked BNR who obviously thinks the company is worth more than MAT has paid to date. The only way to prove this is to lift the price of the shares - not drop it as usually happens when a CR is in play. Lower prices gives someone like MAT the opportunity to buy more shares cheaper.
A T/O announcement in the near future wouldn't surprise.
All interesting.
BNR Price at posting:
3.3¢ Sentiment: Buy Disclosure: Held
