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3.26%

$4.75 tribune resources limited

This is an offer for an asset it's just business..... It's the...

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worzel1

1,107 Posts.

115

26/11/18

12:13

Post #: 36639197
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Originally posted by poliphili ↑

NST have carefully avoided making a pitch for both companies as this would have required them to comply with ASX rules in that they would have to establish the basis for their valuation. As Eshmun has previously pointed out, this would have devalued their own company and demonstrated by such a low offer that NST is somewhat of a Ponziesque bubble. (Try a rule of thumb estimate based on earnings per share - run an NPV exercise on the three companies.)
If anything, NST should be required to make a formal offer for both companies given that the EKJV represents the overwhelming majority of their assets.
In an attempt to hide behind the inadequacy of ASX rules to steal the balance of this rich project, NST appears (as Eshmun has also said recently) to have run foul of S51 of the Corporations Act. The application of S51 is not a limp lettuce leaf. IMO, TBR and RND should initiate court action against NST and its Directors.

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This is an offer for an asset it's just business..... It's the TBR board's responsibility to demonstrate that it's inadequate. Why isn't the board responding.

At the current share price I estimate the offer plus assets exceed the market caps of the combined companies by about $3M......

TBR Price at posting: $4.65 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $4.75		Change 0.150(3.26%)		Mkt cap ! $230.8M

Open	High	Low	Value	Volume
$4.60	$4.75	$4.59	$10.06K	2.151K

Buyers (Bids)

No.	Vol.	Price($)
1	14	$4.49

Sellers (Offers)

Price($)	Vol.	No.
$4.75	1	1

View Market Depth

No.	Vol.	Price($)
1	1100	4.850
1	2079	4.800
2	2250	4.600
1	538	4.500
1	550	4.310

Price($)	Vol.	No.
4.960	1	1
4.970	2	1
5.120	1000	1
5.200	200	1
5.500	100	1

Last trade - 15.08pm 28/11/2024 (20 minute delay)

TBR (ASX) Chart