Ann: Director Recruitment & Company Secretary Update, page-26

Genius has no obligation to act for the benefit of all shareholders, only Genius shareholders.

I think their game is clear and years in the making. They sold a bunch of centres to MFD for equity, making them the largest shareholder. In under 2 years, not long after the 1 year transition period ended, they made a bid for all of MFD. They probably didn't expect any other suitors as they clearly are in a position to kill any deal. But Busy Bees tried anyway. Genius has made it clear they will unconditionally block any takeover offers. Losing Genius would be a worst case scenario for them: not only do they not get Genius, but they lose the centres they sold as a tactical sacrifice.

I think there are two likely outcomes:

1. After an appropriate period, with the MFD stock in the crapper, they come back with another takeover offer. Us bhaggies are sick of this POS, and will gladly accept it. They'll easily get it at $1.31, their last bid, or maybe cheaper given what's happened since.

2. They have a change of heart on owning this now troubled franchise, and approach BB telling them they are now open to an offer.

I may just be a dreaming bhaggie, but I think this is cheap here, and we'll see another offer one way or another. Next year with luck.

But I'm also still hopeful for a fye dividend. And I believe in unicorns.