Insignia Energy Ltd ISNAF

leak!

[linus4]

For a stock that trades about 7000 shrs/day , it seems  strange to see 35,000 shrs/day for 2 days prior to the news announcement..The OSC might want to review those trades...

[qwqw]

I bought 30,000 shares on friday and no inside info.I was expecting Brookfield to hang out the for sale sign sooner or later,but going private,that was a  pleasant surprise.

[puntabeach]

Fully  agree.   This  MUST  BE  INVESTIGATED   FURTHER. I  ll  report  it,  and  I  recommend  all  to  report   it  too.   BAM  was  playing  games  on  our  backs  with  nailing  SCS  shareholders   and  now  this  LEAK.....

[NevilleHoward]

The company states that the value of their shares is $2, so why is the offer at $1.35?

[ValueCat]

Because they figure there's no one else out there that would pay any more. Also, BAM wouldn't sell at these discounted prices and they have control. The best we can hope for is the Board negotiates a bit of a bump to make it look honest.   

[UberGeek67]

That is a good question. IMHO, the company states their NAV at $2 because that is what the financials and land holdings calc to. This is a gas weighted stock, with almost no float. These two factors make this company trade far below NAV. Noone else would offer a 95% premium on the pre-offer stock price. This is a good deal all things considered. I also don't think a bump in the offer price is

[UberGeek67]

...but I REALLY hope I am wrong about an increased bid!

[NevilleHoward]

Why do you hope your wrong about an increased bid?

[UberGeek67]

I am not expecting an increase so I hope I am wrong and there is an increased bid. Sorry for the confusion!