Ann: BCI: Presentation - BC Iron acquisition of Iron Ore Holdings, page-6

Disappointed at the price & disappointed to see that the Stokes camp have agreed to sell. I note that IOH holders then hold roughly thirty + percent of BC iron so that would mean that Mr Stokes emerges with 15+% of BC, so I guess he sees greater upside by the combined holding. He no doubt will dictate who the two directors will be too. Interestingly, by saying they're selling into the bid unless a higher bid comes, he has signalled to the market (other potential bidders) that they can get him on board for a deal thus taking out any uncertainty so that is a useful nod to others.