Any regular reader of the Tawana thread will know I opposed the merger from the start on concerns it would make the company an easy target for price manipulation and take over. I didn't expect the merger to be stuffed up so badly that it would damage the SP to this extent.
It would be a reach to suggest that having A40 end up in the pockets of Tribeca with a $40M loan at usurious rates was intentional, rather it was most likely incompetence from the consultants advising the merger who failed to comprehend their primary task and allowed AMAL/Tawana to fall into the hole.
Regardless, here we are and terribly exposed. If someone offered ~35c/share I'm sure many shareholders would grasp at the opportunity, so badly has the situation become. Which is exactly the outcome I was relentlessly ridiculed for suggesting in pre-merger days.
A40 Price at posting:
16.0¢ Sentiment: Hold Disclosure: Held
