yep, on-market bids are always unconditional in practical terms. i posted that way back when the bid was announced - so no news there. I recall also highlighting that once s/h accepted on-market, then thats that- no chance of benefitting from any increase in the offer.
Beach get all the luck imo - the drop in Wall Street overnight almost certainly would have caused more s/h to sell into the Beach offer.
Thats "new info" to come from Beach wrt PEL218 is really interesting issue.
What if that info is really important? what if its really price-sensitive stuff, like news of terrific flow rates etc???
If it is, ADE s/h would need to ask whether Beach was buying their shares based on Inside Information??
Now Beach has form wrt trading shares at times when sensitive drilling news is imminent !
they will claim that they complied with all the rules.
I hope that ADE directors start really yelling loud and clear if Beach suddenly come out with important news at this point in time - ie after Beach has secured control of ADE.
Because some of you guys have sold at 20c, and maybe if you had the latest info, you might not have sold??
cheers
ADE Price at posting:
20.0¢ Sentiment: None Disclosure: Held
