IMO, We will never get a "buy out" offer as good as what we can expect from an Arbitration decision.
The Chinese are not known for over-paying for anything, and after the ridiculous deal we had with them, I have my sincere doubts that they will ever make us a reasonable offer.
If Management believes that 3.8 plus billion dollars would be a fair Arb.award, which would come to approx. 9Dollars per share, what do you think would be a fair, acceptable offer from the Chinese? What do you really think is a possiblity?
Isn't it Management's responsibility to announce, before or during the AGM, financing to get KRY through Arbitration? Don't shareholders and the Public deserve to know that KRY won't go bankrupt before an Arbitration decision can be rendered?
Certainly, if the stock is worth 9 dollars with Arbitration, there should be no problem with obtaining financing. Fung has always stated that financing is not a problem, so why is he not making a public statement to that effect?
IMO, it apprears that it is Management's intention to keep the stock price low, so that a low ball offer will look good. And because of the bad press received by the general Public, bad press which has always remained uncorrected, the Public will continue to be kept unaware of the potential offered by Arbitration. Or, the true value of a buy- out or settlement.
I think shareholders must be prepared to reject any offer which fails to approach Fung's evaluation.
TIA, vlada