Ann: Intention to Make Takeover Bid, page-57

It's a big fat NO ThANKS for that offer.

Ok...I missed the 15.3 million due in January. (So my inital calc was incorrect ...tried to edit post but was too late...oops)
So that leaves USD 40.3 million cash in bank.
That equates to AUD$56.5 million.

That approx 56.5 c /shr.

Then 2 years later , USD$55 million is additional AUD $78 million.
roughly equates to 78c /shr whichever way you slice and dice.

So thats' still $1.345 /shr ...aprrox if they do nothing for 2 years.

I understand why the other mob have made the offer.
it's a steal....literally. lol

Hey ...I'll give you a $10 note for a $20 note.

But there is NO WAY i would accept 45c! Not even close.
Nooooooo Thanks.
Doesn't even include remaining assets in valuation.

Fortunately, a revaluation has occurred.