Ann: Receipt of Revised Non-binding Indicative Proposal, page-2

Key paragraph:

If the Consortium provides a binding proposal in respect of the Proposed Scheme at no less than A$0.250 in cash per Genex Share to the Board, subject to the entry into a scheme implementation agreement acceptable to the Board and no superior proposal emerging, it is the Board’s current intention to unanimously recommend that Genex Shareholders vote in favour of the Proposed Scheme (in the absence of a superior proposal and subject to an independent expert concluding (and continuing to conclude) that the Proposed Scheme is in the best interests of Genex Shareholders).

25c, and the board will say accept.

Too cheap.