where will it settle?

NZO out of market for now so it will drift lower to settle at 23c~ next few weeks.

Haven't seen anything official on FIRB but would expect that to come through shortly, then they will quickly move to 20% and probably wait again.

Chairman has been nervous of a takeover when trading at 18c. This locks control up tighter and will require a much higher 3rd party bid to rest PPP from their clutches.

Medium term (sometime 2009), NZO will probably bid for PPP.