Ann: Improved POSCO proposal and intention to recommend, page-48

There you have it, a two party stitch up, Gina and POSCO.

Instead of competing with each other and raising the bids, they join forces to bring SXY down at a low price.

An effective 58 cent price, in the OLD money before consolidation, is an absolute steal, it's almost a disgrace, and practically the crime of the century to sell this company down like that, and especially after the additional gas fields they purchased today.

I will vote no, but it won't matter, because if the directors recommend the deal, then it's effectively done and dusted.

Unfortunately, for all shareholders, this is a poor outcome, many of us were looking forward to the company growing and expanding profitably over the next 3 to 5 years. Perhaps the directors want to move on now to their other business projects.

Gw