Ann: Bellamy's enters Scheme Implementation with Mengniu, page-272

I'm out too.

I've been in this stock for 14 months, patiently waiting for SAMR, and getting frustrated with the delay (which now amounts to 22 months since application).

This is an opportunity for me to exit at 14% profit, so I took it, bird in the hand .I believe the deal will get through the Shareholders and FIRB, though I suppose there is a small probability of problems.Todays exit price is close enough to the final deal and I am conscious of the opportunity cost in waiting for three months for the deal to be completed.

Was there a conspiracy here to delay the SAMR? Who knows, but my experience says that both capital markets and politics is like that. The big will often screw the small. It's not ideal, it's not principled, but it happens all the time.

GLTAH

FT

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