CDD -- The Next Two Years, page-23

@croasian1 if they are going to sell, then they will want to sell entire company (because that's what a purchaser will want) which means buy backs will not get them there. So I predict a low ball offer for all outstanding shares, either this year or next, followed by negotiation to get substantial shareholders on side. Not sure what the red lights in terms of takeover act are Croasian? I don't see any. But to trigger compulsory acquisition they need to get to 90%. Gary Weiss (Viburnum Funds) & others yet to jump aboard will will make them pay. Will have to wait and see. BTW, I noticed Alberta Investment Management recently (Nov.) acquired 5.48%. Good to see.

@1more. Yes, they don't say preparing for sale but that's want they do. I don't believe they are interested in holding long term for income. But they have a lot of catching up to do to make what they would regard as an appropriate return. Would Crescent be interested in holding long term ie. more than 7 years? --- Not if they can help it. They do manage money for one of our largest super funds (Aware Super) which shows up on the register as having an interest in Crescent's holding. Quite possible that the plan is for them to acquire the company as a long term investment if the business succeeds. But to be honest I'm just speculating now.