Ann: Becoming a substantial holder, page-112

It happens. The same thing happened years ago with Centro Retail when it was becoming clear we would vote down the amalgamation. A sweetened offer then presented itself prior to the meeting.

Unfortunately for MIN, the opportunistic offer of acquiring AGO for $280M, which would then increase MIN's equity by about $860M; (estimated inclusive value of tax assets and port usage written back) $1.24B to approximately $2.1B, an increase of 69% just won't happen unless the revised offer is considerably more reasonable for AGO shareholders.

It is an absolute ridiculous situation that we are being offered 8.2% of the consolidated entity yet over 40% of the consolidated equity post acquisition will come from AGO.

Come back with a more reasonable offer and it might then be give due consideration.