CBO unknown

now here's a laugh :-))

  1. 840 Posts.

    This would have to be the funniest bidder's statement that I've ever seen.

    (check out the spelling, typo's & grammar)




    COBRA RESOURCES LIMITED 2003-05-07 ASX-SIGNAL-G

    HOMEX - Perth

    +++++++++++++++++++++++++
    The company advises that it has received the attached document titled
    "Bidder's Statement" from Mr Stephens. The company is seeking legal
    advice as to the effect of this document.


    Make the following conditional offer for all Fully Paid Shares in
    COBRA RESOURSES LIMITED of Western Australia

    The offer is a CASH Offer one quarter of a cent per fully paid share
    Funding for this offer is private cash

    Broker to be nominated within 14 days

    I make this offer on the condition the company and its share holders
    agree to sell all shares listed in Cobra Resourses Limited to me, so
    as I am able to hold 100% of the company.

    The company would be delisted from the ASX as a delisted company
    there would be no shares inssued or for sale in the company.

    I have made this bid based on what the directors them selves have
    valued the company at with their current offer.

    I am offering to buy this company as I do not beleive the current
    board have its best interest at heart or the interest of the share
    holders.

    I currently hold no shares in Cobra Resourses Limited nor have I held
    any shares in Cobra Resourses Limited for over 12 months, nor have I
    traded in the stock either privatly or through any other person or
    company.

    I am unable to purchase this company or its shares in any other
    manner as I am barred from being a company director or manager due to
    actions taken by the ASIC.

    The action taken by the ASIC was unjustified and will be chalanged in
    due cause.

    I plan to put the North QLD sites into production within a short
    period of time after taking control of the company, and also plan to
    do the same with the other off shore leases.

    I believe that the company Cobra Resourses Limited is of great value
    and can and will be very profable over time with the correct
    managments team in place to run the company as a private concern and
    not a public concern.

    I will not purchase any part of the company shares anless I am able
    to obtain 100% of the shares as I have no confidence in its current
    managment and Board of directors.

    If this offer is not taken up by the Board and the current share
    holders then it may be that I will attempt to buy all stock available
    on the stock market, but as yet it has not been decided to take this
    action antill the Board and the Share Holders of Cobra Resourses
    Limited have voted on if they will accept my offer.

    I have made this statement about my background and my intention in
    relation to Cobra Resourses Limited so that there can be no
    misunderstanding of what I intend doing or the actions I may take.

    Any share holder that may have questions can contact me through the
    postal address of P.O.BOX 590 BELMONT VICTORIA 3216 and I will
    respond to them.

    All ASIC and company regulations in relation to a take over will be
    acted upon in relation to this offer.


    Terry N Stephens

 
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