CXX 0.00% 6.6¢ cradle resources limited

Notwithstanding the "belts & buckles" type clauses in the 85...

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  1. 1,085 Posts.
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    Notwithstanding the "belts & buckles" type clauses in the 85 page Scheme of Arrangement document, which Tremont (& our Board!!) has locked up as tight as one can get, it would look very damning (or suspicious) indeed if an outside bid - for considerably more than .33c - was made to shareholders and it wasn't considered.

    The exclusivity & no talk clauses prevent the Board from soliciting (in any form whatsoever) bids from other parties. But - if the Board were fulfilling their obligation to act in the interests of all shareholders - and they happened to receive an unsolicited bid for say, .50c per share, why can't (wouldn't?) they recommend that? The Board and the other "insiders" are holding 45% between themselves.......
    Last edited by Dentie: 11/03/17
 
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