At least $3.50 if fully T/O, page-39

I see plenty of advantages for Len (e.g. instant monetisation of his holding at a big premium to market value.) I don't see any advantages for minority holders.

I see plenty of disadvantages for minority holders (e.g., we forsake the possibility of a takeover, we give a competitor full access to all of our IP without being paid a cent for it etc.).

I don't begrudge Len doing anything with his shares. However, I am not prepared to screw myself as a minority holder just so that a rich old man can get richer at my expense.

If Novomatic want Ainsworth's IP, then let them take over the entire company the normal way (i.e., by bidding for all of the shares). If they want to take a stake in our company, then let them buy shares on market like the rest of us.

What advantages for minority shareholders did you imagine you saw?