Ann: Offer Final and Unconditional , page-3

I expect now the offer is final , unconditional , and the board has confirmed there will be no further increase to the offer , the acceptance rate should accelerate towards 20% in my view .

I expect we will see buying in the ordinary stock on the back of this confirmation and a rise towards 6c again

I cannot see how the board could increase the offer now as those that accept now would have a case against the board if acceptance now was lower than an offer in the future .

I was thinking of holding out and hedging my bets , but will now accept 250 shares for all of my current holdings on the basis I sense there might be a positive half yearly result and they think that that offer might of been a bit to generous to give up 54% , should they be able to repair germany and the rest of the loss making countries sooner rather than later .

My guess is that if that is true future offers can only be a lower multiple