Ann: MAQ: Application to Takeovers Panel and Extension of Offer, page-3

I agree, looks like at this stage they are not looking to increase their offer in the short-term. Maybe they believe the upcoming HY update will reflect poorly on BPF (and guidance provided since the offer) and entice people back into the offer? Might have been wise of them to try to up the offer 1-2c if their goal is to entice people back in.