Big Banc Split Corp T.BNK

Every day is Garbage Day on this board

[kingyahoo]

Sorry guys and dolls, but you fill this board with so much rubbish that I do not know where to start. For God's sake. If you don't like the deal, sell, get out, and zip.

What if? Why this? Mahagement does not know anything, etc. Please be kind, get a life. Do not clog this board with garbage.

Bankers Petroleum Ltd. enters into definitive agreement to be acquired by an affiliate of Geo-Jade Petroleum Corporation

What do'n't you understand by definitive?

Thank you.

[Mulaman1]

This post has been removed in accordance with Community Policy

[terryshan]

Everyone can read if that's what you are implying. Clearly you don't understand the deal at all.  Geo-Jade don't have the right to buy Bankers, longzhou xinke ("the affiliate") of Geo-Jade. However, Geo-Jade has not yet raised the money (rmb 8.2 billion) to buy the affiliate yet. Based on what I have read in the offering memo for the private placement that Geo-Jade is

[braincloud]

That's a good synopsis. Lot's of moving parts.

[kingyahoo]

I will not argue with you. You have your perspective and interpretation of the offer. If I read you correctly, the buyer does not have the money. Then why would the intended buyer agree to a clause: "Agreement also provides for a mutual (Buyer and seller) non-completion fee of US$20 million if the Arrangement Agreement is terminated in certain circumstances."

[terryshan]

Thats correct, they don't have the money yet. The deal rides on Geo-Jade successfully raising $2.5 billion from private placement. Also, I have no idea what that "certain circumstances" mean. For all I know, Geo-Jade is not on the hook for the $20MM breakage fee if they can't find the money.  Good news is that, after speaking with my Chinese friend, he seems to think that

[kingyahoo]

Both parties, buyer and seller, have attorneys who hopefully are not feeding them garbage. I am here to make money: take profit at every opportunity. Buying BNK last friday at $1.11, took profit and still holding, I am not complaining. I want all the wise guys and dolls to answer this Question: Why has BNK had traded between a high of $1.85 and a low of $1.81 all day so far? It is becuase no

[kingyahoo]

Before some clowns complain they need a translater, I made a spelling mistake: I wrote: " Cannot understand why people on this board have dobts. If I had, I will get out and shut up! I meant to type: doubt. Thank you.  

[Mulaman1]

This post has been removed in accordance with Community Policy

[ChupacabraBueno]

I think you're right. Tight trading range is indicative of shareholders - even ones already sitting on a large gain - and "suckers" alike are loath to forego a ~$0.39 gain (over 20%) in less than 3 months. -No translator required.