Ann: Notice of General Meeting/Proxy Form, page-2

proposed transaction is "not fair but reasonable" - great that clears it all up

looks like the offer is between 6-9% below assessed value, but this probably does not take into account anything in relation to redevelopment which should bring the value up materially.......having said that, it appears that SIT does not have the expertise to do much at this stage and perhaps a more motivated external party will drive the redevelopment

still leaves the question of funds for redevelopment, and also what SIT does for space for their training business if they need to move out of Clark (to fully realise the value of the property)

looks like they really have SIT shareholders over a barrel (included connected SIT parties who will benefit from taking a bigger share of the property off SIT and into their personal companies).......question is there does not seem any alternative hence the "reasonable" rating