Ann: Proposal from Wesfarmers, page-174

It's good because I'm making a fair bit...but I'll still be voting no personally.

I see significantly more value in developing this asset long term despite the associated risks. It seems like there are a number of other shareholders who feel the same way, this offer is simply too low.

This should place a nice floor under the SP though, because even if the t/o is voted down the market is now aware that WES is happy to pay 1.90 for the entire company. Also as stated, the gold needs to be considered.

Anyway, it's quite exciting early days!