increased offer for irn, page-20

djzab,

I see this as a good ploy by Indophil's md and ceo (Richard Laufmann) together with non-executive director (Dick Potts)to extract a higher bid from Xstrata.

I was also a shareholder in Lion Selection until recently and have just received the bidder's statement booklet in the takeover bid by Indophil for LST.

Again this I think has been a good tactic by Indophil. The bidder's statement is very convincing in explaining the value of Tampakan to Lion shareholders were LST to be acquired by Indophil and the entities merged(ensuring LST shareholders are fully informed of the value of LST's Indophil shareholding before LST gives the shares away to Xstrata at bargain prices).


Ajax