Yes the s/p is 53% below the t/o offer price of 66Cents p/s, and you ask is it worth a punt, and will there be a revised offer at a lower price.
Of course it is worth a punt on those figures, this whole investing on the ASX is a casino with the way the ASX lets the shares of companies be manipulated along with ASIC.
Regarding a lower revised offer no way.
While dingyi were negotiating the offer the S/P was pushed up from around 24 Cents to 48 Cents from early April to late April Dingyi would have been keeping a eye on the s/p as negotiations progressed. Then when they made the offer of 66 Cents p/s the shares rose to a high of 57 Cents and have since then drifted lower with the help of the bigboys shaking the tree, nwts do you really think Dingyi would have put a offer in at that price, when they watched the s/p go up as they negotiated the deal, they know they have a great deal in purchasing ELM, because the Chinese are buying up Dairy Farms, Cattle Stations, and as much Arable land as possible, so they can feed this generation, and future generations of Chinese into the future.
I am not concerned with the s/p, actually at the moment I love it, 53% Profit does not come along easy, I am making the most of it.
Cheers. Simmo.
K2P Price at posting:
44.5¢ Sentiment: Buy Disclosure: Held
