Ann: Offtake Terms Resolved , page-9

SBL

Nothing in the terms of the SLR agreements prevents the PRH Board from acting in the best interests of its share holders should another superior offer be placed on the table. In fact they are obliged to. The SLR deal does include rights to match.

Any possible bids would certainly not be made "blindly" as you say. There are people out there that know a hell of a lot more about Phillips River than Jason, Les or any of the other PRH Board members put together.

It may or may not eventuate and of course if it did SLR would have to be paid out.

All very interesting and I guess as a PRH shareholder it is reassuring to at least have a safety net in place all be it is still a long way to fall! There is no issue for me with SLR - if they are able to get this deal through they will have done well for their shareholders.