THE independent board of diamond miner Trans Hex has advised shareholders not to accept the offer from billionaire Christo Wiese, pointing out that experts had placed a "fair and reasonable value" of R8 per share for the company, more than double the bid on the table.In August, two firms associated with retailer Wiese, Cream Magenta and Metcap, bought 47.08% of Trans Hex, an alluvial diamond miner, and, together with investment company RECM and Calibre Investments, which owns 25.2% of Trans Hex, launched a mandatory offer for the whole of the alluvial diamond miner for R3.94 a share.However, on Friday, Trans Hex notified shareholders that its independent board had advised against accepting the offer after Snowdon, appointed as independent experts, had put a range of values on the company, starting between R3.45 a share and topping out at R12.87 a share, and that the fair and reasonable value was R8 a share."The independent board, having taken into account the opinion of the independ...
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