RE:Buying into what we already own....I'm still going to wait to see what the formal proposal looks like before I figure out what to do.
I reached out to the Company to ask them what the governance process looks like for this and if they have formed an Independant committee and engaged an external party to perform a fairness opinion. My view is that the Independant Committee should also seek Independant legal advice to ensure that there is no minority oppression through the proposal and that the shareholder agreement of PrivateCo protects minority shareholders.
I was not able to attend the conference call so if this was addressed I would appreciate if someone could provide a briefing.
The statement that this move will unlock value for shareholders seems to have very little merit based on what has been communicated to date.
There should really be no reason to rush this process and it would be a lot easier to unlock value once PNG is up and running and the entire division could be sold off.
I am hanging tight for now.
LR