We generally know who has bought, pushing the price up in the process - Michael Fotios (mainly) and incumbent Director Rob Martin.
The vote is just 11 days away. Many would have already voted. Those bigger holders who haven't voted as yet might be persuaded by the courting by Mr Newton and mates as per the letter that has just gone out. I'd like to know what it says, but I guess that apart from saying bad things about the opponents and good things about themselves it would be wanting to know numbers, one way or the other.
The monstrous elephant in the room is the possible massive off-loading of shares by the loser!! That's a frightening scenario, eh! BUT, it's something that both sides would want to avoid one would think. Why win the battle but lose half your army in the process! What I mean by this is having the SP halved because the loser dumps on the market. That would wound both the winner and the loser.
So, what's the solution? Maybe have a pact between the parties that whoever loses will, if wanting to sell, offer to sell to the winner first of all ie a pre-emptive right at market value less say a max discount of 15%. A time would be allowed, and if that time passed then the seller could sell either on-market or off-market to whoever he liked. Now, that second option raises an interesting situation in that the shares could be sold to say Sandfire.
Anyway Durr, what's the basis for suggesting 12c?
Coincidentally that's the strike price for AUROB which expire in 72 days.
AUR Price at posting:
6.7¢ Sentiment: None Disclosure: Held
