In laymans terms what they are telling us to do is until an offer is made NOT TO BUY any shares and consider SELLING shares instead because a binding offer may not come and the share price could fall. Hey Dingy, any ideas as to who is buying the shares then? Wouldn't be you (the bidder) by any chance?
Since this morning I've had a few chats with members of the broking community in Perth, and lets just say there are quite a few significant buyers coming to the ELM party with an expectation to only accept an offer based on a reasonable fraction of the $4b pre-tax NPV.
Management - Do the right thing please. Deliver shareholder value based on project value. NOT on VWAP. I think you all know why the share price was where it was before the proposal.
Thank You
K2P Price at posting:
46.5¢ Sentiment: Buy Disclosure: Held
