Ann: Off-market buy-back to commence 20 September, page-7

You will no doubt find that it will be oversubscribed, it is on the Nav price.

This is a copy and paste exert from my Dixons advise.

If Eligible Shareholders make a Final Price Tender, they can also (but are not obliged to) nominate a Minimum Price below which they are not willing to sell any of their Shares. Eligible Shareholders who nominate a Minimum Price will not receive less than the Minimum Price they select for their Shares. However, their Shares will not be bought back if the Minimum Price they select is higher than the Share Buy-Back Price. Eligible Shareholders can specify one of the following Minimum Prices: $0.85; $0.90; $0.95; or $1.00. In the event of a scale back, Shareholders holding 500 or fewer Shares are able to sell all of their Shares into the Share Buy-Back so as not to be left with a small parcel of Shares. Any scale back that applies to Shares offered by trustees or nominees will be applied on a registered shareholder basis.

Was advised to go for a 15% discount to get the most out of the deal.

Hope this helps