More than 2/3 of the shares have already approved of the deal so I guess they have decided that this is the best that they can get. I was hoping for more like $7.50 but this isn't the first time I have been disappointed by the price of a takeover.
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Your shares will be bought out at 4.5 ea and deposited into your account once the deal commences...or you can sell now and take a few less cents per share since it's trading a little below buyout...
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Filing deadline is either June 17 or June 29. I'm not sure. It depends on the market cap value they use bc smt has recently doubled in market cap. Different reporting timeframes for the super tiny companies versus just the micro and small caps.
Interestingly, the Primethean and Net Dragon deal was first reported on June 17 and Promethean hadn't filed it March Q earnings or even given a date to release them a that point. Seems like smt is also trying to time earnings with the end of their strategic review, which hopefully leads to a compelling deal. We should know in cpl wks
Just like we should have heard a day for releasing the numbers? not! I have no idea what's going on,, I called there investors relations and left several message to no avail. Something is going on positive or negative I really do not give a S anymore! management sucks and I cant wait to get out of this junk stock!
If there was a major accounting issue we would have heard about it by now just like last quarter's preannoncement.
What reason could they have to ask for more time. There is very little complicated about this company's accounting and last Q they managed to meaningfully revalue its inventory and tax asset and still filed with plenty of room to spare
I assume they won't report Friday afternoon before Memorial Day wkend so 2 more days left before earnings should be released. All the news seems much mor positive recently