Bedford received the shares in exchange for their interest in...

Bedford received the shares in exchange for their interest in the holding company that held the Agbaja leases ultimately transferred to Energio. I personally think Bedford will do the same as most of us...wait until the full value of Kogi Iron is realised through the successful completion of the metallurgy testing and JORC / global resource upgrade. This should happen around the middle of the year and be accompanied by a strong uplift in share price. Following that, I believe a takeover offer is the likely outcome.