cheap as chips, page-11

When the notice hit the market Friday that CBA werent converting I neglected to fax through my remaining IBR shares for conversion. Call me stupid for taking such a gamble with a lot of money but I smell a rat. I took half my holding and converted early however I held the other half until the death knock. Anyone else do similar? Hugh was almost certain he had there shares and even mentioned it in a previous announcement. As per the media articles in The WA and on Egoli he is flabergasted that this happened. Caught him from left field.
Now I would be almost certain of a higher bid to attain the last remaining shares and it could be to the detriment of those that have already converted. I just cant see how he can make a suitable arrangement and I highly doubt that IBR can be forced off the boards legally. Knowing that CBA is on the IBR case(they own the majority of the leftover shell) I think they have a manouver up their sleeve. Anyone like to guess what it may be. They have the money, the insider knowledge, the legals and the REASONS for holding out.