I think the market is wondering what the SP of EXU will be if...

I think the market is wondering what the SP of EXU will be if they don’t get to the 90% compulsory acquistion level. I sold the new shares I’d bought at an average of 8.4 cents on Friday for 11.2 cents and picked up another trade between 10.5 cents and 11.2 cents as well. I’m completely out again because I’m not interested in the RMS offer and was in this for an independent project and company.

The market factors in risk and the difference is the risk premium. I’ll wait and see how much RMS get once their offer closes and maybe jump back in later down the track once the price falls (well) after the offer closes. If they don’t get to 90%, chances are RMS might launch another bid later down the track to mop up the remainder (if there is any). It will depend on RMS’s relevant interest once the offer closes and how likely RMS are (and their chances of success) of applying to ASX to have EXU delisted.

How far away are they from board control? It’s not like the board automatically changes, there needs to be a move and a vote for that to happen so until there is a real final capitulation of acceptances uncertainty remains and the market doesn’t like uncertainty. Esh