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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » CONTRADICTARY statements BY BUYER & SELLER RE: MGT & GREG

CONTRADICTARY statements BY BUYER & SELLER RE: MGT & GREG

2 posters

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GHERATH72


Stock Trader

I kindly draw Your attention for the announcements made to CSE by MGT on 22 & 23 /4  and on 23/4 by GREG. Interestingly date of the  so called  letter of the GREG  appeared as 27/4/2021 ALTHOUGH date of announcement is 23/4/2021. As per the contents of the letter SUBJECT TO DUE DILIGENT, which cannot be accepted.DUE DILIGENCE must be done before the acquision. The sole purpose of the DUE DILIGENCE is to  determine  whether  BUY OR NOT and in case BUY at WHAT PRICE? 
Accordingly there should be  a huge doubt on this.Already I have informed  this matter to the SEC. GREG SHAREHOLDERS are kindly requested to raise their voice on this matter  

Further read the articles appeared on Daily FT during 23/4 to27/4/2021 re  acquision

dayandacool and judecroos like this post

samaritan


Moderator
Moderator

GHERATH72 wrote:I kindly draw Your attention for the announcements made to CSE by MGT on 22 & 23 /4  and on 23/4 by GREG. Interestingly date of the  so called  letter of the GREG  appeared as 27/4/2021 ALTHOUGH date of announcement is 23/4/2021. As per the contents of the letter SUBJECT TO DUE DILIGENT, which cannot be accepted.DUE DILIGENCE must be done before the acquision. The sole purpose of the DUE DILIGENCE is to  determine  whether  BUY OR NOT and in case BUY at WHAT PRICE? 
Accordingly there should be  a huge doubt on this.Already I have informed  this matter to the SEC. GREG SHAREHOLDERS are kindly requested to raise their voice on this matter  

Further read the articles appeared on Daily FT during 23/4 to27/4/2021 re  acquision
Isn't this of concern to MGT shareholders as well???

dayandacool likes this post

GHERATH72


Stock Trader

TO SAMATIRAN

NO, the buyer is MGT. 97.68% OF SALES PROCEEDS OF RS.3.9 Billion WENT TO GREG .As per Daily FT  deal was done at 2.5 times above the book value. because of that  hefty capital gain  received ,GREG ATTEMPTED TO HIDE IT stating they have received only RS.2.9 Billion ,DUE DILIGENCE HAS BEEN IN PROGRESS which is not acceptable.

It affect only to the GREG minority share holders.

nigma, samaritan and dayandacool like this post

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