interview faber, page-38

Snapper

It will depend on local sentiment and the local malaise that is roughly interpreted as "too good to be true". Adding up the various contracts we have heard about suggests the value at placement ought to be north of $20, even at low pe. The delist offer will be the ASX price at delist offer time, pure and simple. Many parties have been playing games for a long time and ALL of them now hold more shares than when they were pretending to sell (except DKR of course). I would be surprised if the CS offer price to their clients was less than $5 more than the delist offer on the ASX. As 90% or more of stock is very tightly held they may only receive 5 million shares at delist so there may only be 10 million or so available for their clients making an IPO of about $200-250 million possible. It will be interesting to see what sort of PR campaign occurs to explain what is a compelling story. DF has started the process. Hopefully the Duttons report wil further summarise the benefits to those who are more inclined to be influenced by irrational markets and professional naysayers, many of the latter operating with a particular aim in mind.