This offer does not surprise. He simply wants to acquire the...

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.