Are you really being treated unfairly by the offer though, after...

Are you really being treated unfairly by the offer though, after all you can choose to take the cash like First Samuel or keep shares in an unlisted entity like Zimi Meka can't you?

This is a scheme of arrangement, so we do not get to the option to keep our shares like the other big holders have arranged with RCF (assuming the scheme is successful); we will be forced to sell to RCF. It is blatant discrimination of small shareholders.

RCF are attempting this now for one reason only: they feel we are at the bottom of the cycle and therefore this is as cheap as it will ever get; there will be a long-term value-adding climb in the share price from now, so now is the time to steal the company away from other shareholders. I can't question their motives at all; I would do the same if I had the cash.