Ann: Costs arising in response to Non-Binding Indicative Proposal, page-17

What take-over offer? There was none.

"Following the period of preliminary due diligence, the Interested Party advised the Company that ithad decided not to progress the Indicative Proposal on the basis that..."

Given the amount of money spent in the diligence process - to come to a conclusion that an offer on a company with a Market Cap if $20m and a SP of 1.3c isn't worth pursuing - is worth applauding; seems strange. The company *wanted* an offer - otherwise they wouldn't have spent $500k entertaining the suitor. But what they presented to the interested party wasn't sufficient to show that party that an investment was worthwhile.

9SP didn't walk away - the other party did.

Given 9SP spent $500k on this - for the announcement we has just received - you wouldn't want too many more offers before an acceptable one comes through; if that's your intention for your investment (other than seeing it through long-term)