Given Redbrook are fast approaching the 20% shareholder...

Given Redbrook are fast approaching the 20% shareholder threshold, we are getting close to the point where they are likely to show their hand. If they truly believe the assets and cash exist (and they must or why would they build such a big stake), then they are likely to make a takeover offer to try and gain control of the company. The interesting thing here is that given the substantial discount to net cash backing, it provides an opportunity to offer a significant premium to the current share price at well below NTA. Further, if the Chairman or other related parties attempts to block a takeover, it could spark a bidding war, which would be a great outcome for shareholders. Potentially very interesting times ahead...