GBGI Offer7 Nov 2018 12:38
I would definitely agree the Share Offer does not reflect the value . The Share price was up to £1.14 in August , so in my view this is a bargain basement acquisition. The share price at the placing in 2017 was £1.50 and Management have utterly failed in their responsibilities to shareholders by agreeing to such a low offer . There was plenty of opportunity to turn the business around as is evidenced by this opportunistic purchase by a Venture Capital Group. Unfortunately from what I have read the offer already has 90% Shareholder acceptance of which the management consists of 33%!!. The management are obviously being offered some big opportunities in the new group. Overall a loss for the retail investor again. I get out just about even but there was plenty more to gain imho.