It's a simple matter to increase the bid price.
WestSide seems to have plenty of fuel in the tank - AUD $96 million to be precise.
WestSide has been provided with a bank statement for an account held by Landbridge Group Co., Ltd with Agricultural Bank of China (Rizhao Lanshan Branch) (an externally rated bank in China) evidencing that Landbridge Group Co., Ltd held, as at 4 August 2015, an amount in that account totalling approximately A$96,844,899 based on an exchange rate released by the Reserve Bank of Australia on 4 August 2015 of Chinese Yuan Renminbi (CNY) to A$ of 1.00 AUD = 4.5764 CNY). Landbridge Group Co., Ltd has confirmed to WestSide that it will maintain sufficient funds in the account to meet its obligations under the Offer and the funding commitment letter.
AJQ Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
