Ann: Supplementary Bidder's Statement, page-23

I think Madamswer's first comment on this thread is on the ball. When the takeover bid is pulled there won't be much support holding this at current levels. In fact I am surprised Allensford has kept their offer in play at this price and didn't retract it. From the announcements it should be noted that current management think they will make a loss by the next report so don't expect 2X10c dividends this year. The 10c dividend they have offered is more than likely for the whole year. Those doing their sums on a 7.4 percent dividend for the year (20/2.7) shouting its still a buy will more than likely find those sums not adding up at the end of the year.
For full disclosure I bought in on the recent drop under the current levels hoping for a semi decent report and a return to 3 to 4 dollars with a big dividend. That didn't occur and the report didn't hold out much promise so I exited a couple of days ago. It was just lucky timing that an offer was made allowing me to exit gracefully. This would have gone below 2 dollars after that report was released in my opinion. Be wary of this one. Once that offer is pulled it's going to be volatile either way.