well for all our criticism of the take over, you have to applaud...

well for all our criticism of the take over, you have to applaud the achievement, even if it is underhanded. They have effectively gained 80% of the company by paying something well less than 50% of it's value. That's impressive.

Not real unexpected to see them try to mop up as many as they can of the last 20% as cheaply as possible before entering as you say "the start of the real takeover".

It's quite clear that that the majority of Australian based holders are not remotely interested in the current offer and see right through the scare tactics being used. Everyone (us and them) knows that to get 100% without all the legal implications of law suites etc, then a reasonable final offer needs to be put on the table.

We cannot be too far away from them moving to that phase of the T/O, but expect a bit more market manipulation to drive out those who are unsteady. But also don't expect the next offer to be a big jump. It will be incremental until they get to the 90%. Therefore the longer we resist the better the offer.

Ask your self why they are so desperate to get all the shares in BRM. Quite simply because the know the true value...it's just good business.

I hold....