Ann: Non-Binding Proposal , page-9

I hit up GRD for some idea of completion of due diligence, any dates etc. But got nothing.

In response to your query, we refer to the ASX announcement dated 11 June. As stated, GRD does not intend to make any further announcements concerning the proposal from AMEC plc unless, and until, a binding implementation agreement has been executed.

I'm going to take it that GRD aren't interested in an offer only equal to an PER of 11 on the companies project earnings for this year. I know I'm not.