It's such a shame the bidder (Taurus/T2) hasn't seen fit to make fair and reasonable offer (as per the INDEPENDENT EXPERTS report) that is compelling enough to gain the support of the independent directors of the Realm board.
I imagine we will hear further from them in the coming days. Based on the last announcement from the independent directors, I would be very surprised if they recommended shareholders accept the revised $1 offer.
When the bidder announced the bid, they advised (as contained in ASX announcements) there were 3 conditions as part of the bid.
As per information in the Target's statement, accepting the bid now will not help get paid out any sooner.
If the bidder make an announcement saying the offer is now unconditional, then payments will start being made to shareholders (with a 30 day wait from memory, refer to the first few pages of the Target statement).
The bidder has not made any announcements to the ASX about a change in their shareholding or what level of acceptances have been made.
My conclusion from this, which seems to be consistent with the majority of holders on this forum (myself included), is that there is a low number of shareholders who think the current offer represents appropriate value for their shares.
The bidder will be making further announcements in the next month (updated status on those 3 conditions, and a further announcement around the offer, which is currently due to expire in June (11th from memory).
The AGM is on in 2 weeks also.
Hope this helps.
RRP Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held