the "partial" take out offer at 30-40c, was never going to be...

the "partial" take out offer at 30-40c, was never going to be compulsory, but, would have placed a floor in the sp.

It did mean, that the JV party was stepping into that role, would have wanted NKP equity, and a lot of it.

That would have also reduced the amount of liquidy, depending on how much they were able to aquire.

If you think about it, the lower SP really falls into their hands. How many mums and dad holders, would now be happy to just take that 35c and run.

But maybe that was the whole idea.

If the sp had been 20c, few would take a 30-40c.
But now? Plenty.

So a little perplexing that it seems to be not in the focal vision where it once was rumoured to be.

So why now sideline it?

Why forgoe a floor mechanism to the sp?

There must have been a change of hearts to the short term rational to the long term.

And maybe it just comes down to that long term holders will be rewarded at the end of the day, or decade whichever. So puting all shenanigans aside, deliver the best outcome for NKP shareholders, and in 1-2 years, rewarded, without having had to compromise, or be seen to take a short term pricing mechanism, that altered the equity structure to where NKP were uncomfortable with.