Ann: Response to Open Letter , page-3

well a can of worms here - multiple problems which basically come down to ; Pay Up !
clearly highlighting that this is an opportunistic bid, and revaluations and new leases need to be included in the "independent valuation".
l suspect that EPN may just be looking for 3% cheaply to get control, but they certainly wont get much more than that at 7.8c.
l doubt they could get away with the de-listing threat.
but if the want 100% they will need to at least offer NTA, and l think that figure will be rising with time, so l dont mind the delays.