Ann: Supplementary Target's Statement , page-2

well here is an interesting turn up - edt takes the position that in a vote to wind up the company EPN would NOT be allowed to vote as they have an interest in the matter i.e. making t/o.

this means that there is a real possibility that the company could be wound up. this is not a bluff.

however EPN take the view that they ARE allowed to vote, so it looks like a court case here.

hence the bluff is to EPN to raise the offer so that the vote is cancelled.

what an interesting impasse. pity nobody seems to be paying much attention!