west aust hanlong to use sundance , page-18

I think the real reason for the delay is so that associates of hanlong have enough time to acquire enough stock on market now to ensure it has the support of enough shareholders to vote for its proposal. Its a filtering process now of flushing out all those that are disappointed with the terms of the deal and bringing in those associates of hanlong and hedge funds that will be more than happy with being provided with an opportunity to make more than 30% on an annualised basis which in this current market is a great return, thus ensuring enogh support from shareholders for the proposal to go through. Why else would they be so confident of making such an opportunistic offer and probably having it go through now. The insider trading eposide was just a small smoke screen to hide the true picture of developments that are taking place.