Ann: Non-Binding Indicative Proposal from Paine Schwartz Partners, page-7

The market fair value mechanism have been wrong on this for a few years now.

I believe It is a one of a kind business. P&S knows that if they take all that cash they are willing to pay us out and start from scratch they wouldn't have half a company half of what the CGC operations are today.

I get it. AG is not sexy. in fact it is downright dull. The SP gave reflected this for a while now. However it is a good business and considering the tough conditions it has navigated the last few years... it is a great business.