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Re: Snow_Deer post# 75

Thursday, 08/23/2007 10:39:05 AM

Thursday, August 23, 2007 10:39:05 AM

Post# of 78
My point of view: both companies can profit from the merger, and our chances for getting an appropriate stock price is much higher with AEC than it was with ROL. AEC has already had a higher analyst coverage and mutual funds invested. So the merger of these two companies is a good thing, in general.

But the question remains if the exchange ratio is fair.
If a substantial change in NAV happened since Dec 2006, I cannot rule out that the exchange ratio might be fair. But in this case a new reserve report should have been conducted and presented to us with the information circular. This is what I answered Roger Tang.
Since this was not done, I still believe that ROL shareholders should vote no to the merger.

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