UIL 0.00% 4.2¢ uil energy ltd

This takeover has not been thought out properly, we are being...

  1. 1,027 Posts.
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    This takeover has not been thought out properly, we are being told to accept 7 cents a share but there is no guarantee it will be anything like that.
    Strike are raising money at 11.5 cents, its a tall order to see the share price hold the 14 cent mark needed to justify the 7 cents of value for UIL shareholders.
    At the 11.5 cents capital raise the implied value for UIL holders is a little over 5.5 cents a share.

    How can our directors in good faith pursue a deal that could end up giving holders this result, at this price it does not stack up to the 11 million dollars Strike agreed to spend for a 50% share in a single drill on an adjacent block to us.
    Either the directors are playing a long game and hoping to bring someone else to the table or they have simply lost interest.
    Right now an all cash bid at 6.5 cents is a better alternative than whats on the table.

    J D i thought you were smarter than that.!!
 
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