Well said Radioactive and certainly agree with the following:'...

Well said Radioactive and certainly agree with the following:

' then I have confidence that the board could easily make a placement to a select group of investors to ensure that Dingyi's % ownership is kept down'.

ELM could easily do a placement with Pala to dilute Dingyi if they had to.

'I don't believe that Dingyi deliberately knew that this reverse takeover would get knocked back hence give them the chance to get control cheaper but the market has changed since then and they may start playing dirtier so our board has to treat them with extreme caution from now on'

I also don't think it is some 'art of war' preconceived strategy. If the HKSE would have given the green light then it would have been completed by now.

The price was around 27 cents when the 66 cent takeover price was agreed with Pala and Stalker so I really don't think they are going to try and screw Pala down on the price. As mentioned previously Dingyi have had a chance to change the price and they haven't.

As for management I have heard a quote from Warren Buffet on one of his investment principles which is:

'I only invest in companies that can be run by idiots because some day they probably will be run by idiots'.

With the price now 300% below the takeover price I ask myself one question. Do Dingyi really want this asset and judging by their actions it is a resounding yes!