This offer does not surprise. He simply wants to acquire the company, over time, at the greatest possible discount to NTA. The NTA was $1.03 post the recent issue, that would now be closer to the $1.10 mark given the AUD decline.
It is a cleaver ploy and he will pick up some more stock - but not mine. I am quite happy for him to become more pregnant on this, and in the meantime he has given me a put option in difficult markets.
All good.
RCU Price at posting:
47.5¢ Sentiment: ST Buy Disclosure: Held