Ann: Intention to Make Takeover Bid, page-10

Yes there is some danger, they have a $30mil loan from Arcade Finance due in 2020 which is fully drawn and is secured against the assets of the company. We as shareholders do not know the lending covenants, so there maybe some risks.

That said, I do think that the offer is a bit light, but these things have a way of sorting themselves out.

I've been watching this since 60c, considering if I want to enter, but with the state of retail in this country, hmmmm, I'm struggling with this investment.

Whats interesting is that nobody is plowing into the stock to pick some up below the offer price...