GREY:NOVUF - Post by User
Post by
GLENN#on Sep 07, 2013 12:19am
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Post# 21724421
Re: Re: Conflict of Interests...
Re: Re: Conflict of Interests...It is my belief and I have stated it here before.
The uncertainity they (the BOD) have created in the market over the 9 months drove down the price. Plus I strongly believe that the BOD wanted a cash offer so they could cash in their options. Keeping there jobs is a perk.
I don't think we will ever find out if there were other offers, be it stock swap or stock swap / cash.
As for raising cash, Novus has a good line of credit and since they have stopped buying back stock (to later give to themselve in options) they have started to pay down the debt.
There was no need to sell if the market was poor. We could have grown organicly for a few year just fine.
One thing that I find strange but totally believable with this BOD, the AGM was pushed back until December. My thoughts is to let the up roar die down and push the deal through.