re: vrc sells 10m vrl That is a good point! How much do you...

re: vrc sells 10m vrl That is a good point! How much do you think they owe on their approx $210m stake (100m shares x 2.10 per share)?

They could use their large salaries to pay a fair bit of the interest you would think?? Approx $1.5m each would come in quite handy.

Yeah boswell are being a bit quiet! Where is that takeover offer! Could they force the directors to recommend a takeover offer or could the directors all chose to make 'no recommendation' - according to corporations law directors can make 'no recommendation' if they state the true reason why they are not recommending - do you think a director could say - 'I choose to make no recommendation on the takeover offer because if I recommend it then all of the preference shares would convert to ordinary shares and we would lose control of the company and I would possibly lose my job'???

Ed