how long

Yesterday the company announced

"The Board of Adelphi advises its shareholders should TAKE NO ACTION and await Adelphis further advice after it has properly considered the offer in consultation with its advisors, Hartleys Limited "

Any views as to how quickly this will happen or is there reason why a delay in making advice this is the right strategy ?

Whenever they do it - i just hope they clearly articulate why the lowball offer should be ignored as well as put in some $ numbers about the future value (risked and unrisked )of the play / company and talk up prospects with optimism as they have been in previous announcements and annual reports.

I just hope the board does not just leave the minority shareholders to hang out to dry.