1 man.s veiw

Guys - I am hurting here. I brought in at 1.25 went on Holidays into the desert and come back to this mess. I discussed it with my broker and between us have this view. (This was not an offical veiw held by my brokers firm as they have a big no-comment on RHG atm, it was a discussion between friends so take it at face value.)

We think the stock is worth around 40c as is. i.e the WBC Bid and the loan book.

If (and this is a big if) someone else was to make a bid we feel that it would most likey when WBC started mailing out the offer to the shareholders then they can come in and trump the WBC offer and maybe seen in a better light by RHG holders. Why would the other players let WBC get away with this for so cheap. But on the other hand why would they rush in with a counter offer straight away. It is not like it is going anywhere.

The stock could run up to mid 40's in the meantime.

I suppose my bottomline thinking here is that I am sitting on a big loss (I call it a Tax deduction to make myself feel better) However I will hold and wait and see how it pans out. If it breaks to 50c I will then re-think wether I bail or not.

However I am not planning to throw good money after bad trying to trade this one. I have been burn't before.

This is my honest view about how I feel this will go. Everybodies position is different. But I believe that this is now a spec. And should be played as such.