Magpie does your Mum call a trading halt before she carves up the turkey? No of course not, so why should CQT call a trading halt while they are carving up this turkey of a deal?
Listen to the conference call on this deal that one of the others sourced a few weeks back - http://www.brr.com.au/event/81724?popup=true - at 27min 05sec (I recommend fast forwarding through to avoid listening to the cheesy spin-doctoring) they say "our discussions have been going on for sometime - well before the SBM proposal was made public" - that means this dud deal has been brewing since well before May 2011.
Does this also mean that less than 12 months in, the new management team were angling for the exit door with their options?
I know some might say this is a good deal - but ASIC didn't like it according to that recent newspaper article, and independent expert Grant Samuels couldn't even bring themselves to say it was "fair" - what a joke!
CQT Price at posting:
55.0¢ Sentiment: Hold Disclosure: Held
