Good work LZA.I'm interested to see that there is finally...

Good work LZA.

I'm interested to see that there is finally recognition that EPN may have impacted on the prices they themselves have quoted to talk up their meagre offer.

We have been saying for some time that the low prices they quote are partly due to their own activity. Now the independent directors have concurred that the "Offer is
opportunistic given that the Trust's unit price has been depressed as a result of factors which may include the dilution created by the recapitalisation in 2010,...."
and PKF notes
"The entitlement offer price in May 2010 was priced at a significant discount in order to ensure that recapitalisation could successfully take place. Therefore, caution must be taken when comparing the Takeover Offer offer price to such a discounted value."

There is also the impact of simply having EPN on the register which is also now acknowledged to be a factor which could well be pushing the price down.

Alf