Well VPE hold 90,290,000 shares so if they wanted to they could be a big chunk of that 221-222 million (Roughly 25% of the share capital). If enough of the other shareholders decided against the offer then those figures would not be out of reach.
I have already copied down the top 20 as at 15th November... just to see if there is any movement with them.
It is still very much early days and there are still many boxes to be ticked. As well as much information that may come to light such as what VPE's CR was all about, maybe something, maybe nothing. We also have that report to come out about whether it is in our best interests as shareholders...
The other item is that my understanding is that we do not need to make a decision until early 2011 (March indicative) on whether to decline or accept the offer. Plenty of things can happen between now and then. Thats the risk you take when holding shares. As long as you make the decision that is right for 'you' at the time then just remember hindsight is always 20/20!
ITC Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
