Also, not sure how much everyone here knows about takeover...

Also, not sure how much everyone here knows about takeover regulations, but here are the thresholds for % of shares/voting rights necessary to get a takeover done:

Hostile takeover - 90%: quite a high %, if an offer comes in to early shouldn't be overly hard to reject given the sentiment of a lot of holders here. Also, worth noting, that if FIL ups their holding to over 10%, they alone would have the power to make sure a hostile takeover gets blocked, could be a positive if they want a bidding war.

Friendly takeover - would likely be a scheme of arrangement: 75% of shareholders have to agree for a takeover to be permitted. If a friendly takeover offer comes in and the management like it, not much we can do, except hope that management don't short sell us.

A small part of me wants a TO for the immediate lump sum of cash in the near term, but the logical part of me tells me to wait until true value is realised.