Ann: Becoming a substantial holder, page-5

Thanks @SteveSage. The problem is evaluating the likelihood of a superior bid emerging (either from Soprano or elsewhere), and weighing that against the risk of the share price falling back to ~30c if the current offer falls through. Any views on that?

It's a tough one. Of course, if you are confident the business can achieve sustainable profitability, you will be prepared to hold and wear the short-term hit of the takeover not getting over the line, but the track record so far on that front doesn't inspire much confidence.