The bid is very opportunistic and it is a disgrace that the independent directors have recommended the merger on the proposed terms. To recommend merger based on "56% premium to the 1 month VWAP of MRZ at $0.35 up to 12 Aug" when the units are trading at $0.55 and still at a significant discount to NTA is an insult to the intelligence of MRZ holders.
If the independent directors wanted to add value, they would accelerate assets sales at the 30 Jun 09 book values that they signed off on - and work towards moving the share price towards NTA rather than handing all the upside to the majority shareholder.
The bid is very opportunistic and it is a disgrace that the...
Currently unlisted. Proposed listing date: 15 MAY 2019#
