Havenfresh are behaving like a bunch of amateurs and I doubt...

Havenfresh are behaving like a bunch of amateurs and I doubt they will come up with a better offer.

As for the earlier question about re-listing, the Lowy consortium will want an exit strategy and will therefore push for this to happen as soon as the business has stabilised.

The market doesn't seem to realise what a great deal this is for shareholders. The banks have just gifted the company $80m and, even after giving away 35% to Lowy, there is still plenty left over. Considering that shareholder equity was about $40m at the end of December 2015, the current market cap of $5m makes no sense.

IMO, the market should be valuing the current shares as options on the future equity that will expire when they go ex-rights to the notes issue.