Ann: Target's Statement, page-10

At least BDO have provided a detailed analysis of the situation, so now shareholders can make a better informed decision...... Hanking are openly trying to low ball holders..... so it's now a matter of how much do we care about our investment in PGO? As it's clear the directors are not interested in running the company.

The most dissapointing thing about this whole play is just how quiet the MD Gary Mills has been in this...... he might be a good miner, but that's where it ends. Gary and the board's decisions have brought the company to this vulnerable situation where Hanking can make a such a low offer and for shareholders to consider it.
Until this point I thought they were doing ok.... but it's clear they were out of their depth, or even worse in the pocket of Hanking all along. I'll make a point to avoid all of them when making future investment decisions and warn others to do likewise.

In terms of the takeover - Where is the incentive to accept the offer at this point? It closes on the 17th of April and you only receive payment if the offer becomes 'unconditional' (eg; hits their 50% target and 5 other conditions).... and even then you have to wait another 21days to get your payment!

I'm not that bitter about it, I'll actually come out in profit if I accept the offer...... but this is just such a messy and overall really cr@p takeover...... it's like they need existing shareholders to convince each other to accept this shitty deal so it gets over the line?!?

Seriously..... it is all a bit pathetic.