RE:RE:RE:PD board, please walk away from Trinidad bid.I'm not sure that TDG brass will get cushy positions--my understanding is that only one director will be elected to PD and one other director will be nominated for election per PD's Oct. 5 statement:
One of Trinidad's current directors will be appointed to the Precision Board, and one of Trinidad's current directors will be nominated for election to the Precision Board at the Precision shareholder meeting, with such appointment and election to be effective upon closing of the Transaction and, thereafter, subject at all times to the fiduciary duties of the Precision Board and the requirements of applicable laws, agreements will be in place with Precision to nominate and recommend such directors for reelection through and including Precision's 2019 annual meeting.
Read more at https://www.stockhouse.com/news/press-releases/2018/10/05/precision-drilling-announces-combination-with-trinidad-drilling-accelerating#KTgoCkISFLPjJYve.99
My understanding is that what certain employees and officers of TDG will get is the change of control provision which would amount to $4,409,220 on page 32 of their circular which they mailed out to reject ESI's offer.
Interesting to note that ESI just shortened their offer to expire at 10am on November 27--either trying to get the required number of shares before any possible rebound in PD's share price or ridding themselves of TDG and moving on.