Ann: Bidder's Statement - Off-market bid , page-4

This has no chance at 73c when the NTA is 40c.

FLSmidth are going to pay 30 odd cents ($17m) for the actual business which is turning over $30m+ netting $3.5-5.0m?

My message to the FLSmidth Chairman:
How about you cough up for the syngeries that you will obtain by bringing Essa under your control? I'm thinking of a number that starts at 1.

Essa Board:
You have under-estimated the loyalty factor of your shareholder base, you are now about to see what shareholders really think of this offer. It wont get past 25%.

Get on with running that business as a stand-alone, if you dont think you can, its time for you to move on.

Pep