Ann: Successful Completion of Share Purchase Plan, page-9

I hope management are paying attention (& major shareholders are also talking to them).

For a company to be at all-time lows in share price when there is a potential takeover offer for its best performing business seems to indicate that the market understanding how poor that offer is in relation to the contribution of that Australian business, and quite possibly are not confident that the board are going to make the right choice and reject that offer (well certainly at AUD35m).

The US business may be worth a lot more in the next 2-3 yrs, but making losses in the challenging environment, the market is assigning at best ~15m to that US business and that is because it seems unlikely it can survive without the cashflow that ANZ generates.