Part of the reason why Leadenhall declared the original JBL...

Part of the reason why Leadenhall declared the original JBL offer to be "not fair but reasonable" in the past was that BHD was suspended with no likelihood of being reinstated. The original offer was not fair, but it was the only offer BHD shareholders were likely to get - so that made it reasonable.

Having new directors in charge who have openly and clearly stated that it is their intention to work with regulators to get the company trading again will undoubtedly affect BHD's perceived value in relation to JBL's. With the lifting of BHD's suspension on the cards, will the offer from a currently suspended JBL still be "reasonable"? Or even fair for that matter?

I'm not sure whether Leadenhall initiated this communication of their own volition or whether it was prompted by either the new or former directors, but I think the fact that Leadenhall have highlighted the stated intentions of the new directors as reasons for reviewing their findings is a favourable sign for BHD shareholders.

What does it mean? It's too early to say but I'm hopeful that it means things are now moving in a better direction for BHD shareholders.