Ann: Suspension from Quotation, page-322

Just to add to your comments, the regulations about takeovers for both on and off market bids, is that if a party passes the 20% threshold they must make their offer to ALL shareholders. Further and perhaps more importantly, the bid/offer cannot be lower than the highest price paid at any time during the previous 4months. Therefore, effectively Hancock is out of the picture unless they bid $3.00+ to all shareholders.

My only qualification and I have not studied up on this, but I believe if a bid/offer is made at say $3.00 and it has a time constraint for acceptance, whatever acceptances are made during that time can be processed (or it could be extended). If there are few takers, then it can be withdrawn in due course and Hancock would have increased its holding by whatever acceptances had been processed. They may have achieved perhaps a total holding of 30% or even more, and taken effective control of our company.

Short sellers run the risk that Hancock does indeed launch such a bid and that would catch them out big time! So for those Mums and Dads on here think carefully about your actions. This is not financial advice and I commend to you to read up on the takeover provisions. They are quite complex. Also check out the actions of Hancock in the battle for Warrego Energy earlier this year and late last year.

Regards
DF