beach interest, page-28

G'day slugguts. I would have been delighted to get a "partial t/o offer" of 16.5 cents, then a full t/o offer of 20 cents when my shares were .087 just 3 months ago.

BPT have a million irons in the fire all over the world and the LAST thing that they could even contemplate is ANOTHER t/o, especially of ICN that will cost them north of $150 million.

They will be using up a big chunk of their current cash reserves, which, alone will probably restrict them going much, if any, higher for ADE and they have a $150 million loan facility which I am sure that they won't be wasting, considering how damn hard it is to raise that sort of money, on a hostile t/o of Icon.

My, "very unqualified" opinion is that if BPT can't wrap up all of ADE for .20 by the nomoinated expiry date, they will just let the balance outstanding hang and as they CLEARLY state in their Bidding Statement of 7 November, they could even have ADE de-listed from the ASX, even from now!!
So, as I have suggested several times, please get PROFESSIONAL advice if you still are holding your ADE shares waiting for more information. In fact, even as we speak, BPT could be in the process of replacing all non-independent Directors off the ADE Board and replacing them with their own. So, ANY action or information emanating from ADE from today onwards will have to be approved by Beach.
PEASE DYOR.