Ann: Appendix 3Y (Raphael Geminder), page-4

Does any one know much about Boral? The way I heard from Giz, is that Seven started offering take over bid in 2021 but failed and come back years later. Now, the price is at $6.12 (Boral), then the Directors just recommend holders to accept to the offer because Stokes just offer a special dividend if people accept to the offer which brings the total price to $6.58 or so.

How I hope this Pact could go the same way.

However, due to RG's current holding right now, he probably will try to finish everyone off. But if every one could hold back their shares, then while they couldn't raise the final price, they could offer special dividend or so to people to accept to the offer.

From what I heard on Boral forum is that, only the holders that didn't accept to the offer could receive that special dividend? Am I right?

I am thinking that, in July, Kins will have a Court hearing with Tic founder/directors about $30 million payout. It does look to me that Kins tried to privatise before then to secure victory.

Even by this stage, if we hold and lose, we still walk out with 84 cents.

However, by miracle, if we could hold out at least until July by the Court hearing, Kins will be panicking and they could offer special dividend to tip the price over $1 range to win it. We do look like we have that number of shares to do so. Mind you, I won't be happy at that price because I lose a lot of money at my entry price, but at least it will still be much better than 84 cents offering. I am willing to accept the loss only by the MAJORITY of votes up here or through Compulsory Acquisition, so don't get me wrong.

Of course, the ultimate win will be that the take over fails, he has to come back after 1 year or so and by then Manipur reached 10% blocking power or so and therefore, RG needs to pay some where between $2-$3 range to take it down.

Am I right or wrong? Can anyone correct me here? But either ways, I think hold on to our shares is the best option right now that either leads us to special dividend or final pay out price somewhere between $2-$3 range.

Correct me if I am wrong. My opinion only, keen to hear it out.