Further from JB:
TJAK,
Please point out to the bard that I have only 33m shares and Solid made a
mistake by posting that I had 138 million. The 144 states 1% of the float
every 90 days which is 13,800 a day. 1% of the float is 138 000 so he got
his decimals in the wrong place by a factor of 100 which has upset many and
put yet again doubt into the Petel board which we all worked so hard to get
rid of!
To answer Westerns comment "-These figures do not seem cost neutral to me.
Petel receives $207M for $1.85M. Nobody in their right mind would go for
such a deal." - they did they have and they will.
You state your views on assumptions, as you quote, without knowing all the
facts which is not your fault but there is a major upside to this deal and
Petel took advantage of this opportunity. There are very few share holders
in the acquisition so the parity is on reconciling the pro rata businesses
and potential which means the Petel share holders of which there are many
are treated the same as the target entity irrespective of the numbers
involved. You base you assumption on 1 for 1 being number of shares issued
and not value. Now if there are few Director share holders in the target,
who will no doubt go onto the board of Petel which is a Global business not
a UK business then the picture should start to fall into place. This deal is
global value and not based on number of shares times value of shares.
So this is a true deal, it is signed and the stock will be available for
issue first week of July. My honest guess is it will hold comfortably at
between $0.50 and $0.60 which is good isn't it?
AI
