I don't know how many shares Mr Byrne owned in NDO but if he had a significant stake which had been purchased with his own hard earned cash then I think we would have seen a better deal.
The 5.5cents offer is only taking galoc into account what about all the other assets?
I have not done the sums but compared to OEL this deal does not appear add up at all.
Firstly our share price was depressed due to a dry hole, it was the perfect timing for an offer of 5.5cents, it looked good for some investors at a particular moment in time.
Not only do oel sell their asset in Galoc all shareholders get 6c / share cash and keep their original shareholding in the company.
Mr Byrne, I ask myself the question why has he not attempted to reject or at least get a better deal????--whats in it for him?
Chass
NDO Price at posting:
5.4¢ Sentiment: Hold Disclosure: Held
