For the record I only asked one question. There wasn't really any need to ask anymore as the OXX rep asked all of the questions I had (plus plenty more).
Also, it was clear to me from comments that I can't recall word for word, that the previous directors resigned because if they didn't it was made known to the them they would be removed at the next meeting.
For me, while I find it distasteful in the extreme (and I can't emphasise that enough) business is business. My major issue with the transaction is the price, rather than the proposal itself. I firmly believe OIP is at a crossroads and needs to reinvent itself very quickly to deliver shareholder value. My gut feeling is OIP's CSG assets may or may not be valuable (DMs comments to my question about the most recent corehole drilling don't align with DC's BRR interview) and something needs to happen to get this thing moving again.
Should it be GGX @ 2.25 for one? IMO defnitely not. Give me 1 for 5 and I still won't be happy but I would have voted for it.
Should it be OXX and their conditional offer? Better, but still too low IMO.
Should independent directors be able to justify to a General Meeting of the company's shareholders why they've recommended the deal other than simply ONLY referring to the Independent Experts report and refusing to answer any questions with respect to said report? That question doesn't deserve a response.
Let's wait and see what develops on the OXX front.
JT
OIP Price at posting:
7.1¢ Sentiment: None Disclosure: Held