like i have already stated on a previous thread:
The Thai plan is to put some 15000 uninssued shares, which will not put money into the hands of any of the boardmembers, but straight into LFC. None of that money comes from people having to buy their own shares back again! Morgan might have to to come back with a new plan that:
a) Values the shares closer to their existing value, ie. 4000, not 1750 (which is a joke) b) not have to make the board buy their own shares back.
Morgan is hoping to underwrite those people who can't/won't afford to buy back their shares. He can get almost 60% of the club that way, if no one buys the new shares. Go read the facts. I think I've gaffed on a few, but they're all in the ballpark of what was offered.
LFC said it was "Unattractive", as an offer.