Ann: Presentation - Goldman Sachs Battery Day Conference, page-31

I think Glencore and Blackrock (amongst other investment companies) are the controlling shareholders in AVB and obviously happy with the quick return without a counterbid, management are left field in this offer if the big co’s agree. Note the 51% shareholder acceptance. $440m not bad but could have been more, OZL very smart operators. At least it is staying in OZ (but the interest is in Brazil so should we own it lol)

Point I’m getting at is what can management without serious skin in the game do about their shareprice except for building the company as best as possible while trying to dodge stray bullets? A very important part of the investment selection process I believe. Looking forward to our team proving you wrong