Proof French sold us outFrench by his own admission said that the deal had been in the works for about a year prior to the announcement of the sale. That was in March 2016, back in April 2015 BNK was in the the high 3's ($3.83 was the highest) and this was during the downturn in oil. Yet they saw fit to sell out for $2.20.
I would bet all my BNK shares that French, the Albs snd Geo Jade cooked up the tax audit to even lower the SP more and make the $2.20 look like a deal for weary longtime investors. The tax audit was supposed to be resolved in the 1st qrt, then the 2nd and still nothing. Will we ever know?
I hope French gets his due and Geo Jade turfs his sorry a$$ IF the deal goes through. Looks more and more like it won't get done and I would love to see this deal fall through. Sure the SP will drop a bit and I will load up again. With NEW management which needs to happen, I mean how can anyone respect what French has done the last six months.
Pull the plug Geo Jade......please