Why the real Directors Intentions were missing? in the original PR.
In my opinion:
1. Lawyers
2. The need to reduce the amount of material in the SEDAR filing to go into the PR (and the lawyers saying you have to have this disclaimer and you have to warn them that bad things will happen if Calfornia falls into the Ocean because of an earthquake... you get the idea
3. Lack of ability by whoever wrote the PR to write effective PR, which requires you make your main point at the start, substantiate it, and leave them with the main point again, at the end so there is no mistake.
IMO, the PR was a legal document for the lawyers and the goal was CYA.
Shareholders wanted a point of view and the facts that gave the Directors the expectation of better offers to come...a story or thesis with as much proof as possible.
Whoever wrote it could not put themselves into the position of a normal shareholder and write it to inform them of what the Directors thought about the offer. And I am guessing the lawyer made it get written for other opposing lawyers so no shareholders could say "you told me to do X and it didn't work out, so YOU own ME",
So instead, you have to read carefully and ask yourself what reveals the Directors' ideas and what reveals the lawyers requirements to both not get sued and leave the door open for Brookfield to come to its senses, stop playing penny ante games and make a REAL offer.
Regrettably, there are few shareholders who will read the whole SEDAR filing or who know what SEDAR is. Fewer still are capable and motivated of reading the whole document carefully enough. Or they are too busy. I haven't even finished it, since I have other trades going, my website and subscribers to help and I presume most people are busy and have more than one investment.
And I agree with those who are aghast at some of the insider selling. I can imagine justifiable reasons, but IMO there is a lack of understanding of PR, shareholders, and psychological principles here: If information is kept secret, the average person will presume the facts are hidden because it would be damaging to release them. I was upset that Brookfield broke the rules and did not file with SEDI when they bought shares. I am now upset with the WND insiders who also neglected to file. While I presume the WND insiders sold for a good reason that was independent of their view of getting a good buyout soon, I would be MORE confident if they didn't try to hide it.
Back to reading the document.