GREY:PSLRF - Post by User
Comment by
roscoe74on Aug 19, 2014 11:44am
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Post# 22855794
RE:RE:RE:RE:Will Maha blow the deal?
RE:RE:RE:RE:Will Maha blow the deal?Hmm. It appears that shareholders value PXL more than insiders do. Considering the lack of volume and anaemic share price, the information circular, a joint effort of Maha and PXL, needs to inspire the troops with some vision and concrete analysis of their plan to enhance shareholder value (PXL shareholders, Maha shareholders are making out like bandits).
Reading the merger documents on Sedar, it is difficult to ascertaine whether the conversion of insider options, awards and warrants are converted at 1:1 or are subject to the .1393 conversion rate.
Maha owns no production, is investing in a depleted field with steam enhanced recovery that is not yet proven and raised $10mm PP on terms totally different than PPY's business plan. If they do raise $70mm, what dilution does that subject PXL shareholders to on top of the .1393 Maha dilution?
Did insiders of PXL consider shareholder value paramount? The financial advisors will provide a written fairness report. Will PXL release to document to support their opinion that this deal is fair to shareholders or will we get vague mumblings and a barrage of incomprehensible legalese?