RE:RE:RE:Investor relations ratingWell there you have it. I knew something had to give by mid month and dissapointed to see that my concern about an MBO has now come to fruition.
So how should shareholder vote? We've had poor disclosure and also what now appears to be false and misleading statement by management during conference calls, and a management team that is trying to save their hides (jobs) after destroying shareholder value on an incredible scale. But .32 seems like highway robbery and given its Beedie we have a firm that has privaledged insider information in making its decision regarding items such as pipeline and backlog that investors don't have quantitative numbers to assess, just fluffy comments. I am quite certain that Beedie expects to make out like bandits on this deal. All this feels like an investor lawsuit in the making.
I fully expect other suitors to kick the tires here and in particular I think WellHealth (WELL:TSX) will want to make a bid. Given that my view is that .32 per share is the opening bid. How high those bids could go is anybody's guess but if the company does sell at .32 then it'll be crystal clear that SA has flat out made false statements.