Ann: Scheme Booklet Registered by ASIC, page-6

The offer price has heavily influenced the "Independent" report.

They have come up with a valuation, surprise surprise around the offer price with a range slightly either side of it.

I would consider the top end of the range in the absence of a superior bid.

Tim and the board have been totally incompetent to give up all the land and all the other projects as part of the Scheme. I can't think of any other company that has done this and usually the main project is sold with the balance of land / projects retained to try and create more value for shareholders.

But ongoing value creation does not appear to be a priority for Tim and the board and they are more interested in cashing in their free options and having a nice holiday!!

I'm sure a long holiday will happen for them - whether they want one or not as I can't imagine any company hiring these guys again!!. Maybe some desperate and dodgy penny stock but that's about it.