Ann: Update on AVID and Ho Bee Land Proposals, page-6

Exclusivity for AVID has now expired. They appear to be in no rush or pressure from other competing suitors.

Given that BHL has a "current" deadline of 21 Feb to complete DD, and that AVID have not sought an extension to any "exclusivity", what little that means given the circumstances, then it is likely that AVID has put pens down on the takeover offer. Who would spend significant time, effort and resources on DD if there is no certainty of closing a deal.

The next 3 weeks will be interesting. Hower my call is that no deal will be done from anyone and any potential acquisition will just fade into distant memory. Simon may have pushed it just that bit too far, however from his perspective it makes no difference.