Ann: Non-Binding Proposal , page-5

well in August 2007 the board thought that the transfield offer of $2.70 to $2.75 wasn't enough and to quote from the asx announcement said

“We believe the indicative price significantly undervalues the company and underestimates the strategic
fit of our GRD Minproc and Global Renewables operations at this stage of their development.
“Transfield’s conditional proposal also underestimates the future, locked-in revenue streams from waste
management operation Global Renewables.”

The comments above must still apply today and grd has got rid of loss making eastern creek. Despite the gfc effect I think grd should still be valued at more than 55c. I bought my shares at a much higher price and have no desire to realise a loss.I hope the board does not accept this proposal.