Ann: Takeover Offer by Panoramic Resources , page-2

'The proposed Offer consideration is 2 Panoramic shares for every 17 Magma shares held, which according to Panoramic’s announcement implies a value of AUD 14.94 cents per Magma share based on closing share prices on the ASX on February 2, 2011 (Panoramic: A$1.27 & Magma: $0.08).

The timing of the Offer, which is unsolicited, appears to Magma Directors to be highly opportunistic and the Directors advise shareholders to take no action in response to the Offer at this time, subject to their own financial advice and circumstances. Once Panoramic’s Bidder’s Statement has been received and analysed, the Directors will provide further advice to shareholders.'

here's another thing they should have said :

if any further manipulation selling goes on with MMW of the kind carried out over the last 3 months to ensure an 8c MMW VWAP the board of MMW will be obligated to request that ASIC carry out a full investigation on who the sellers are and were, what their motives are, and whether they are interconnected to an extent that suggests a conspiracy to manipulate the price of an asx listed security for a collateral purpose.