A couple of things..., page-6

Ahjay ,I may be wrong ,but my understanding of the tender offer is that it is made to all shareholders ,a price within a time period ,only those that want to take up the offer participate ,the offer may or may not have conditions ,for example a offer may be made at 10c and it may be conditional upon 30% of shareholders participating,it is not a takeover offer ,purely just a tool to buy a heap of shares off whoever wants to participate at a set price within a set time period ,,,if someone or a institution wanted to buy say 300 million shares on mkt they would push there purchase price through the roof accumulating ,they may be able to have done a deal with management,but weren't happy with the offer ,so decided to decimate the price then offer willing participants a offer for there shares ,,,all just a guess and my thoughts ,,dyor