Ann: PEA Board Recommends $0.975 Scheme Proposal from QIC, page-8

I'd humbly suggest that as a small shareholder in this tightly-held business, my ability to influence the outcome of this takeover bid is very limited indeed.

I do agree with your point that with regard to PEA, my focus is almost entirely on the "hard numbers" of its valuation metrics. I made the observation in this postthat PEA has been a net consumer rather than a generator (ha ha!) of free cash flow over the past few years, and has not increased its operating margins after it has borrowed or raised capital to increase in size. This is the capital-intensive nature of its business - it's worth buying into at the right price, but it would be a mistake to forget that there is an upper bound to its value.

Congratulations to all holders on a good win with this one, and I hope that you all find productive ways to reinvest the profits.