Post by
tony1969 on Aug 04, 2013 10:41am
We will know by Wed morning Aug 7th...
The results of the voting. As I have said before, I believe that they will have enough votes and OLE will basically cease to exist after that day. The next step will be Bendon. I imagine that TGZ is going to have to come up with some cash and stock now and back load the other portion of the agreement with maybe annual cash payments or increased royalties or something of the like. Bendon will have a tough time proving that they are worth more in this environment. Once TGZ and OLE hook up next week then it will be TGZ, OLE and the govt of Senegal pressuring Bendon to come up with an agreement with TGZ. By the way I read on Sedar that the 13 million plus OLE options that are all underwater for OLE management will be converted to TGZ options once the deal is approved. Once again management seems to win as they will be getting TGZ options at a dirt cheap price.