The crazy thing is that the solution was so very simple.
If the cash component had been dropped 10 cps, Dart could have walked out with an extra $70mm cash.
20 cps ($4.50 cash offer), $140mm.
So much more efficient than struggling for an immediated cash raising.
Makes me think insto's have been begging for a discounted offer that they can make quick gains on (at guess who's expense?).
From management perspective they probably think they are looking to getting deeper pocketed international backers on board and smiling for a long and lucrative (to the funders too) cash raising ride over future years. If they can pull it off we all win (but some, not us, more than others). Existing shareholders will be looked after if all goes well, but imho that certainly is not the priority - perhaps fair enough too.
EL
AOE Price at posting:
$4.99 Sentiment: Hold Disclosure: Held
