I don't think there will be a takeover now they have reps on the...

I don't think there will be a takeover now they have reps on the board. The takeover attempt was never hostile and they want to retain current management not replace them.

On reflection I think the takeover was a tactic to get a large percentage of the equity without having to keep bidding up the SP. If they want effective control (50%) now they could do this via the 3% 6 mth creep provisions although being illiquid this would be hard to do without bidding the SP up.

The major shareholder will look to sell at some point but probably 3-4 years time at $2+ for the entire company.