Member Info for addicknt

Orthern, an interesting situation arises if the Board receives an improved offer but still rejects it. As we know, directors have a fiduciary duty to act in the interests of all shareholders and it could be that some shareholders may accept an offer at a level many of us may consider to be too low. So, in those circumstances, what does the board do?

In the darker recesses of my memory, I recall a situation whereby a group of shareholders took a board to court for failing to present an offer in these circumstances. I'm afraid I can't recall the outcome, nor the company concerned - does anyone else remember it? It was a major company involved.

Putting that to one side, I don't believe JCC are going to make an offer which is acceptable - 26p is simply nowhere close - and the amount by which they'd have to increase it would be considerable. So what do they do? Go hostile? Or walk away with their tail between their legs? Why would anyone else bid against this background if their strategy is to wait until we're de-risked?

Partrytime, have a look at the company's announcements on the matter. They are expecting it by year end.

Partrytime, the CIPA is a critical element of the de-risking process because the amount of investment protected will be significantly higher. We become far more investible once the government have signed on the dotted line.

Magoo, I think you're right and it was very much our management's strategy. Those who've now got more than 1% have 8 more days to reveal their positions and it'll be interesting to see who's been buying or were already holding.

DrQu, I think their motivation is that they're concerned about our sp appreciating further as we move up the value chain by means of de-risking.

The company is using the construction proposition as a defence mechanism. The question is; do any of our main shareholders or other interested parties, believe it?

RT, thank you.

Have bought another 1m shares. Clearly, not a big deal, but they're obviously expecting to make a profit.

Smick, in the intellectual stakes I've come to realize you're pretty much in the same boat as that fine example of the Walking Dead in Perth. But perhaps you could strain every one of your limited brain cells and show me where I said this will go for 30p?

Just as an FYI, I most certainly don't think that and nor have I ever said it.

RBM, agreed and we know what's in the pipeline. They need to get it out there asap, although some cases are not within our control.

Whoops, no doubt me agreeing with you will be seen as another example of us being the same person. So please ignore what I just said and assume I disagree with you. It'll save a lot of bother.

RTt, and therein lies the problem; we are not yet de-risked. Not by a long shot.

JCC know this and rather than wait for us to move into that position, they've made an opportunistic bid before the value runs away from them.

Pbow, we appear to have strayed into an Alice in Wonderland world.

And I should have added a thank you.

Bozi, I accept your point.

Eloro, if you make enough wild predictions you may eventually get one right. Bear in mind, the bloke has been telling us the Board agreed a sale BHP two years ago and have been secretly sitting on it. Anyone who believes that sort of tripe is plainly unhinged.

Dear, oh dear, you've really lost the plot. You say I insult you by suggesting you and Jack are the same person, despite the fact I didn't, but it was you who started this ridiculous nonsense about RMP and I being the same person, which is exactly Jack's allegation about virtually everyone he doesn't agree with. And as for challenging people, sure why not? That right is not exclusively yours.

I have always had you down as a decent bloke on here with reasonable opinions, sadly you've blown that out of the water this morning.

Fort, again, you're right. I think the Board feel sufficiently confident to dismiss any stupidly low bid. Thank heavens we're in a much stronger position now than we have been in recent years.

RBM, hang on! I thought we were the same person?

Fort, you're correct, an extension can be requested and is invariably given.

Smick, as I've already tried to explain to you, it wasn't my opinion, I was simply imagining one scenario. Your reaction demonstrates you appear to caught a bad dose of Mad Jackitist.