Exploration company Aminex has described the latest offer document from OFEX-quoted Apple Oil & Gas as 'a disgraceful attempt to mislead shareholders'.
Aminex said the document made no attempt to justify Apple's claim that its proposal had any value. The Apple move is a response to the defence document issued by Aminex last month.
Aminex chief executive Brian Hall said that by the end of last week, over 82% of shareholders had ignored or rejected Apple's offer. 'They should continue to do so,' he said.
In its official offer document last mont, Apple offered four Apple shares for every 11 Aminex shares and said it would retain the first £3m sterling of available cash in Aminex and return the rest to shareholders through a zero coupon loan note.
