Ann: Response to Speculation, page-439

JM90% for a takeover bid.
75% by value and 50% by number of shareholders for a scheme (would need to be a friendly deal)

According to Positive Trader - Board and management own 18% from memory.

Based on my calculations that would be approx. 330 million shares. Therefore, any offer comes down to whether Board and Management (BAM) think the deal offered is fair value or not. I could be wrong but I dare say that BAM have probably been invested in AJM and have more at stake than most of the investors on HC, including myself. So there is no incentive for BAM to come up with a dud deal as they would also be big losers.

So whether they can strike a mutually acceptable deal or not, have faith in them because if they do have 18% stake, like you or me, they'll be wanting to get the best deal possible and time will tell.

One thing I don't understand is that other posters have said that Shaanxi J&R Optimum Energy Co. already have a 19% stake, but I can't see anyone with a 19% stake on this list. Have I overlooked or misinterpreted something? I don't like to quote you know who but can someone please explain?