This is an interesting one and one I am watching eagerly, waiting for the notice to hit my letter box.
It will be similar to this one - http://newsstore.smh.com.au/apps/previewDocument.ac?docID=GCA00896192BKR
However dont think the value will be the same. But I would accept 17% above previous cash price of 10 cents a share. Only way they will get my vote.
There are some huge positives around this one, and your right, if I were a CEO trying to keep the share price high, I would highlight them. But its all negatives. something we all need to think about when voting. We all have the opp to vote if the price is not right.
Some recents, they have actually readjusted the value in write offs of the under valued assets, they have actually written off stock, so companys like VEG are all profit on old stock sale. They have sold alot of assets and not announced. ie Central Station, Payless, Mp3.com.au and list goes on. They rejected a $2M offer for VEG, which would easily cover cash flow.
Guess what, no AGM date?
The board have to act in interest of all share holders, however with 44% and board control they are acting for Prime Interest as clearly shown above. I also guarantee they will use the bank will foreclose if Shareholders dont accept, just wait for it.
They will want to be careful here, as alot of angry shareholders waiting to pounce and bring in regulars if not doing the right thing. The board is ultimately accountable and I could see a class action coming here.
Good Luck all holders and lets rally the troops for whats rightfully ours if necessary and that is the board to act in the interest of ALL shareholders.
Over.
DES Price at posting:
0.9¢ Sentiment: Buy Disclosure: Held
