Hi all, What a game! Plenty of twists and turns and I think a...

Hi all,

What a game! Plenty of twists and turns and I think a few more to come. A few Q's and observations:

What happened with the trading holt this am? 48.7k traded before someone pulled their finger out?

I'm sure we'll find the answer soon, but why is DGR only voting 60.9m (yes I know that's 19.99%) of its 75m AJQ shares? Does this mean DGR is not 'fully' for the bid or that they are prohibited by some lien to vote the rest?

But I love the game...AJQ still saying accept the AEP proposal "Subject to no Superior Proposal Emerging".

AEP has taken a strategic gamble here. There's only one more voting day left (votes must be in 48hrs before the meeting)...so the choice was...put in a new proposal now and risk a new revised bid from Westside in the next 24 hrs, Or...put the new offer in at the 11th hour but risk too many negative votes from those wanting to accept Westside's cash.

I wonder if those that have already voted against AEP in favour of Westside's cash (as recommended only yesterday at 3.30pm) would/could change?

But I must say I'm underwhelmed by the new AEP proposal. At the very most, it'll cost them only an additional A$7.82m and likely a lot less given the DGR has basically saying "we're not selling but you can if you want to". To us ordinary shareholders its equal to 20.681c/shr Vs 20.00c (13.62%*25c + 86.38%*20c) so only 3.405% better. This is why I'm underwhelmed and the post announcement trading...hasn't budged.. is telling us that everyone else is less than impressed.

So lets see if those Stevedores from the Middle Kingdom have big enough Dim Sims to have a real crack.

Only 24hrs to go...exciting, ain't it?

Cheers