I just think it's questionable for them to launch a partial then...

I just think it's questionable for them to launch a partial then a full takeover offer, agree that's the benefit of having larger holders - they'd need to sweeten the deal for all - and it would be easier for Crescent to sell the whole thing.

My crystal ball is cloudy certainly they're nowhere near done on buyback getting to 320m shares would be an achievement.

Crescent has treated minority holders very well so far - the way they pro-rata'd the capital raising oversubscriptions. Actually disclosed their intentions.

I stand by all my criticisms, it's always healthy to criticize a management - they're getting the big bucks and it's not that hard.