Is there a reason why Craig Lennon couldn't go and make a deal with PanAust, exactly the same as Cobalt 27 propose to do? Ie. handover the 20% in return for their shares in HIG and full settlement of outstanding costs??? What have we got to lose, its worth nothing to us under the the current offer?
By taking PanAusts 11.3% holding out of play, this would increase the remaining shareholders equity per share and in effect increase the value of the offer per share to somewhere between 11.5 and 12.0 cents, a bit more respectable...
Its also disappointing there has been no negative press on the takeover, all the headlnes have been "Friendly", this doesn't help us. We need someone to write an article where word "opportunistic" appears regularly...
C'mon MCC, we need a bid
HIG Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
