Ann: TER: Non Binding Indicative Intention, page-7

UNV Board is misleading the retail holders - they are going to cause them significant harm. Its not a matter of what is the ultimate right thing to do - its making the best decision based on the choices in front of you.

TER is likely to get 70-75% acceptance based on this crash today and no chance of a competing offer. Even if we take out the 27.3% of the institutional holder this equates to almost similar retail takeup of the offer. No court in the world will strip them of this right. That court case is a dud and unlikely to even proceed.