Ann: Cleansing Notice and Appendix 3B, page-25

I thought about a buy out but with their strategic partners I suspect they would intervene and do it themselves. If BUB ‘a was a target we would get a big pay day out of it and imagine A2A and Bub’s combined!
The BUB’s strategy and team are formidable. They have leveraged themselves by looking at the mistakes of BAL and this has helped them to position themselves where they are today. I don’t think anyone can say they have made a material mistake in the business whereas BAL have had to reinvent themselves, which is costly and takes time.
Personally, I think they will out perform BAL, they have so much going for them and I cannot see where they have made a mistake. Just look at how BAL copying BUB’s strategy in their reinvention.
on turnover they should be around $1.66, so there is upside for NUB’s? Which will be addressed in the October 1/4ly.