Ann: Non-binding Indicative Proposal to Acquire rhipe Limited, page-7

It is a very opportunistic offer. Expecting shares to open well above $2.50 as the market speaks to this offer being far from acceptable to holders. That said, expect a price floor to be set now, so many of you will have the ability to get out with a nice gain.

@peterdoobes@Access2020 I am sorry your expectations were not met on this one. The behaviour of Crayon on this as well as the SP rise meant they were looking for a ~$1.925/share price with 30% on top, but the continued Insto momentum from the MA Financial buying pressure took it well past there and eroded that premium. If the SP was still $1.80-$1.85 then many would be saying this was a decent offer.

It's going to cost any bidder $500m to acquire RHP, so $3.10-$3.20 is where a sale will happen.