RE:RE:RE:RE:RE:Evolution Perhaps, their plan is to privatize the company?
Perhaps, they want another opportunity to pick up some more low hanging fruit with the SIB. There was an overhang of over 11 041 080 shares that didn't get filled with the last SIB at $6.50. Kindly recall that Canaccord Genuity has an $8.00 target and this big overhang hasn't disappeared.
The SARs program expires on Dec 31, 2022. They will be very incentivized to get a deal done before Dec 31st, 2022.
Here is a possible privatization scenario over the next two years by applying the SIB on two more occasions at $50 million per occasion.
Spring 2021
$ 7.50
6,666,667 absorbed
Remaining
19,471,288
Spring 2022
$ 8.75
5,714,286 absorbed
Remaining
13,757,003
Fall 2022
$12.00
= Privatization Price
Would the Lyons Trust be happy? .... Yes
Would the SARs contingent be happy? .... Yes
Would the Class B shareholders be happy? ... Yes
cc