Ann: AVID Revised Proposal Recommended, page-5

As best as I can ascertain - and taking into consideration the buy backs this CY - they are suggesting we sell at a shade over NTA and BV of around $2.31
Yes, the market is more rubbery now and doubtless they are experiencing contracts falling over (Victoria default rate is around 30%)...thought they could have got a better price.
At the very least they could have updated us on trading in 2h so that we can make a more informed decision.
They took their time to come up with not much...or so it appears without further information.
On face value it looks like the old car salesman stunt of disappearing into the sales managers office to read the paper, all the time the customers cool their heels thinking the jolly good salesman is pleading for a better deal!