Painted Pony Pete Ltd PDPYF

Waiting it out

[northernbear]

You can tell by the tone of Painted Pony's release, that they're portraying it as a slam dunk and done deal -- it is not. Still need a shareholder vote, which won't happen for another month.

Plus, there's only a $20M "non-completion fee" penalty if PONY backs out of the deal. 

If a significantly better offer from another suitor comes through, (which it should b/c forward value o f assets is MUCH higher)  that is a relatively small amount In the context of a higher and still fair value from another buyer. 

Absolutely nuts to contemplate an only 69-cent offer. Keep your head in the game a little while longer, Patrick!

[topadvisor1]

This post has been removed in accordance with Community Policy

[iwpete]

Major share holders only own 25% according to TD

[barneyj44]

Correct you are Iwpete, Major shareholders own only 25% and management has little to no skin in the game hence the low ball acceptance and throwing share holders under the bus. Hopefully another offer comes in but unfortunately the mafia that's running Canadian oil and gas companies look out for one another and another offer likely won't happen.