Peter, I may be getting ahead of myself here, but

The contents of the proposal to shareholders is all important and IMO must contain a clause which ensures that the final bid selected by the management team is at least equivalent to minimum 90% of the highest financial offer for them to proceed and any offer from a company not operating on a non arms length basis is automatically rejected.

Anything less than that calls into question the possibility of a sale for much less than fair value and funny business. It does appear to be a great idea in forcing possible interested parties to come to the table, but without tying the hands of the negotiators, there does need to be safeguards in what they can and can’t do.

Please advise with any comment you can reasonably make.

Thanks,

Orgy