I hope Matthew Stevens is or becomes aware of today's announcement.
There are unlimited amounts of ammunition to work with here.
Taurus and Galt have really stuffed it up in recent times. The $$ signs in their eyes have blinded their sense of judgement. They have brought so much attention to themselves, and every step they have made would have seemed, in my opinion, to have only been for the benefit of one party.
Everything they do going forward will be heavily scrutinised in my opinion.
Look at Galt's actions
- won't sign off on a $1 capital raising (because he knows it worth heaps more)
- doesn't think he has a conflict of interest (would love to know why he thought that)
- show me what steps he took (if he thinks he didn't have a conflict of interest) to extract a fair value for our shares from Taurus
- won't raise at a $1, but no evidence he sought to achieve a higher price for shareholders from the entity he is a Principal of!!
It will be interesting to see what happens from here.
I expect an appeal.
No appeal is effectively an admission that the Takeovers Panel were right.
They have a history of appealing.
I can't wait to see what they put in it.
RRP Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held