imho - the deal structure allows punters (limited no's of them) to roll into new entity ......I rekon china inc will do this ....(as Croas has hinted at - STO is essentially a long-dated call on OP) ......
the insto's that took stock in placements - what % rtn are they happy with .....(80 - 100%..)
so this could speak for 30-40% of the share's outstanding .......
this only leaves circa 10-15% that need to be convinced that offer (at current OP fwd curve) is fair and reasonable ........
given "the Santos" has basically lifted its skirt and allowed DD ..........kind of suggests management think its a-ok .......
wonder where the monies will go - assuming STO gets dealt ????
rgds
Value_Hunter
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