PM&E, Inc. (PMEA)

[goldpenny7]

Scoobmoney: What does term Irrevocable mean then?

What is so hard for folks to understand about the term 'irrevocable'. People put such STRONG words into agreements with huge financial penalties/payments due from the defaulting party -- should either party renege on the deal. Seems to me for SEIL to include that very STRONG word in their news release means that SEIL is totally serious to push this deal through.

PMEA had another buyer in the 'wings' -- so PMEA would stand to most likely gain a lot were SEIL to renege. SEIL is the one who said it was irrevocable... Meaning SEIL may just want this deal more than PMEA does. If PMEA agreed to 'irrevocable' it may be ruined should PMEA renege - depending on what the actual contract says/reads/penalties included - which I am not privy to. ALSO, I am not a lawyer. Just been a real estate appraiser for over 25 years -- who knows what such words in contracts and written agreements - and often verbal agreements can do in the real estate world. Above is just my opinion.

Personally, I think this merger will be over quickly.

Also, what is so hard for folks to understand the following from PMEA: "In other words, PMEA shareholders will receive one share of SEIL for every eight shares of PMEA". ????

TORONTO, ON -- (Marketwired) -- 05/03/17 -- Today, Seilon, Inc. (OTC: SEIL) announced that its Board of Directors has approved the acquisition of PM&E Inc.'s assets (EVADA Aircraft's total assets) and that the transaction is final and irrevocable. Completion of the transaction is expected in the coming few weeks.

Mr. Bourne went on to say, "We negotiated this transaction as a share exchange at a ratio of eight to one. In other words, PMEA shareholders will receive one share of SEIL for every eight shares of PMEA.