buyout offer for pad coming, page-54

Hi,

To me, reading the announcement time and again, does not look quite straightforward as it seems. MB seems to have achieved a few outcomes with this.

1. Lower the company operating expenses and take direct control of running the company.

2. Severe the exclusivity with PB for australia and NZ regions. There is a purpose behind this

Australia Post seems to have changed direction regarding Parcel Lockers recently. They are trying to integrate the parcel locker selection in the shopping experience with retailers (and not a standalone experience). They may not select any offering from the current tender and may go to market again for lockers only (as they have in house expertise for software integration etc).

Going by the Ahmed's utterings for making e-commerce as easy as possible, the idea of putting lockers in high rise apartments (akin to ourPAD)may be part of the revamped strategy - and this requires absolute cost effective infrastructure.

There may still be life in this dead Cat.