dioro accepts avoca's latest offer, page-7

Ok sumayo just a point or two to set things straight.

First I am happy you sold at a profit.

Second regarding going back on the recommendation.

No they can't really go back on the recommendation cause it went public.

What we are trying to say to you is that you had time to sit back relax and watch alas lights blinken before making a decision.

We are also saying that the Directors had no choice but to recommend you take the offer because if the bid failed the SP would have dropped. By ASX rules the Directors on recommending that SH accept a bid must also sell their holdings.

The statement "in the absence of a superior bid" is a caveat that protects the Directors but also gives you clear direction what to do. The bid closing date was 12Aug so you still had two weeks.

The directors have not gone back on their recommendation because a superior bid has emerged and has effectively cancelled that recommendation. They now have another recommendation saying "TAKE NO ACTION"

I hope that is clear.

Anyhow as I said I'm happy you made a profit.

Cheers
BW