Latest news “DO NOT TAKE ACTION”I've read the latest news from Nickel 28 and the following recommendation from the board is pretty strong: "The Board unanimously recommends that Nickel 28 shareholders take NO ACTION in response to the unsolicited “mini-tender” offer made by Pelham".
Quite frankly, where the recommendation from the board is very strong, and where the board is legally bound to protect the company and its shareholders, I am starting to wonder if Pelham is not a double edge sword.
This is also the first time I read management talking about values of $4 and $2 for Ramu and other assets respectively and here I am wondering why this type of open language was never used by management before? Perhaps fear of over promissing.
in the end, I still believe management should have an extraordinary meeting and be willing to discuss and answer questions, even the difficult ones, openly and honestly. Otherwise we are in the situation 'he says-she says'.