I must say I am pleased to see the general sentiment on here. I didn't expect so much courage to "fight the inevitable".
I also don't believe Nido Management acted in Shareholders interest at all. (Question on a side note: can you act in s/h interest if you are loaded to with options and free shares to that extent? Well, lesson learned for me to take note of those resolutions re: options and shares a bit more carefully and vote NO if in doubt.)
As other posters pointed out earlier, what are the alternatives? Could be that offer is extended, and extended, and eventually maybe increased. I guess that's what we hope for.
Another scenario is that takeover falls through entirely, in which case shareprice is likely to drop to a level comparable with OEL market cap in line with their stake in Galoc (give or take; as I don't think much value is assigned to SC55 and African assets of OEL either).
For me it is the ethical thing NOT to accept the offer. I understand I might lose out on the 5.5cents offer short/medium term, but at least Management does not get rich on my back.
We shall see how it pans out. I personally do not count on resistance from the hedge funds. But the Thai guy and the hedge funds alone do not make 90 % - not by a long shot.
All my opinion, and happy to hear other opinions.
NDO Price at posting:
5.3¢ Sentiment: Hold Disclosure: Held
