That seems like a pretty lousy buyback price, given they are well positioned for much better profitability in a quarter or two and possible other growth options like their digital app, radio (plus potential revenue sharing with Google) appearing to be shaping up well. What happens if you don’t tender and promoters end up attempting to delist (assuming their stake goes over 75% post buyback)? Do you have to just tender your shares at whatever price they announce then? I recall Ineos Styro trying to delist a few years ago, and they were not successful then.
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