re: Ann: NEC Directors' Recommendation on... To all,The offer...

re: Ann: NEC Directors' Recommendation on... To all,

The offer has now been extended for another two weeks.

Did anyone noticed that the bid offer for 50million shares was being pulled this morning and replaced with a buy offer of 184.5 cents with the "UNSPECIFIED/UNDISCLOSED" statement in regard to the amount of shares wanted.

I have never seen anything like that before in all my years of participating/investing in the sharemarket, and IMHO it was obvious that it was just there for the simple purpose/reason of manipulation of the sp, and forcing the hand of the shareholders that were thinking of selling out.

I rang the ASX and I was advised that this new way of trading shares is now allowed by the ASX and agreed with, and condoned, by ASIC. I then asked how many shares it represented but I was told that it was confidential.
I explained that IMO the sp was intentionally manipulated because there are no way in the whole wide world that anyone would buy at 185 cents per share when the T/O offer was at 185 cents, and if anyone wanted to buy at 184.5 cents, no one would know how many shares there were in that order and if he/she had any chance at all to get any of the shares.
After pushing a little more, I was then advised that any offer of that kind would have to include at least, and not less than 500k shares.

To me it was too coincidental that the bid offer for 5million shares disappeared off the screen, and it was replaced with a new one with "UNDISCLOSED" amount at half cent less.

I was then told to get in touch with ASIC and I did. ASIC wasn't very cooperative at first but when I explained my thoughts and the urgency of the matter because the offer was ending/closing tomorrow, I was told to put it in writing explaining my thoughts, and as to why I believed that the particular offer was detrimental to the fair value of the shares towards the shareholders, and I did so.

Interesting enough that 184.5 cents bid with the "UNDISCLOSED" amount is now no longer there. But tomorrow is another day and it may very well reappear again.

Anyway, the main thing is that the T/O offer has now been extended for another two weeks giving us the time to decide what to do without having to rush into a decision that we may regret.

Good luck all,

Buddy