The whole thing boils down to a different question IMO.
Why not offer shares to all the shareholders @ 20c for the full $10million. No sale of any asset.
Then salim can underwrite get a fee and we can all move forward together those buying in and at a fair price.
This low ball offer for Romang and then the counterbalance is a higher share price so none of the minorities take up the offer. Its like offering me a new car at a $10,000 premium to the list price but overpaying me for my trade-in - No one else will pay for the new car but as I participate at both ends I am better off.
I intend to write to management questioning this behaviour. make it one deal all $10 million and I am happy.
ROL Price at posting:
22.0¢ Sentiment: None Disclosure: Held
