positions taken

The offer closes today for existing holders to top up - per the takeover panel's directive. I thought this might reduce on-market demand for a while. I also liked relaxan's logic in the last post. Am a new holder so have been buying on market.

Greg Wolley must be aiming to increase his book wealth by eliminating some of that 60% NTA discount. Gearing reduction to 56% sounds like a good start, even if it involved defaulting on a non-recourse loan.

Anticipating details of the strategy to emerge over the coming months. Might be one of those slow news holdings that you forget about, and let do its thing.