Wise move by the Board2 Mar 2020 09:03
Too many times in the past Solo have flung themselves into deals without great due care and diligence. Look at Pan, what a shambles and total waste of money that was. If any of us had made an offer on a house and 3 months later it had dropped in value 50 percent and the vendors would not renegotiate, it would be crazy not to withdraw from the deal. With such low gas prices there will be other, better value deals out there to be had.
The Board are fully aware that shareholders are disappointed with the end result and will be working hard to replace this deal as soon as the opportunity comes their way.