Post by
uograd on Aug 10, 2020 8:19am
makes me sick to my stomach
the only deal worse than this is when they bought the ugr assets for 5.60 per share.
Ward is truly the worst negotatior in the history of the oilpatch.
Sad reality is is the big funds who took all that paper at 5.60 that made ward sell out so clearly they want .69 cents and want to move on.
I will be voting against the deal
q2 results better be so bad on wednesday that i puke just reading the headlines
breakup fee is 20 million which is what .01 per share so if tourmaline or arc want them the vig to buy them is quite low,
maybe that will happen..
Comment by
Maxmoe on Aug 10, 2020 8:32am
Hey grad, math wasn't your major I assume? 20 mill break fee is more like 20 cents a share, not 1 cent. Watch in the info circ when it comes out and/or other sedar docs to see how obscene the package ward negotiated for himself was. I'd expect a gigantic golden parachute with multi year payout.
Comment by
uograd on Aug 10, 2020 8:39am
yeah your right more like .12 cents per share so piffed off I can' t even add two plus two at the moment. oh yes the severance and board packages will be beautiful bistards! insiders own next to nothing and not a lof of institutinal support so maybe us retail shareholders can sink this ballshit.
Comment by
Maxmoe on Aug 10, 2020 8:45am
Remember how we all hate the hedge funds and the arb traders? They will make or break this deal, not the little retail guys. If 69 is truly way too cheap, the sharks will scoop up enough shares to force a higher bid. But make no mistake, pony is done. There will be no investor revolt that kills this deal, just greedy weasels that change the price and/or the winner.
Comment by
Squint1 on Aug 10, 2020 12:16pm
$20,000,000 / 160995692 = $.1242 per share