note how beach never took up a seat on the ADE Board, in spite...

note how beach never took up a seat on the ADE Board, in spite of being invited, and in spite of holding almost 20% !?

Beach next step is to chuck out the existing Board. Once they get over the magic 50%, the exisiting board will have to resign.
even if Beach only gets to under 50%, they will still make sure that beach controls the Borad.

if you think ADE can sell off any ADE assets without the agreement of Beach - forget it.
beach would have them injuncted before they know whats happening.

beach says it is now canvassing the bigger s/h left - so imo will get their 50% soon.

there will not be any white knight.

the ONLY way BPT will increase its offer, is if enough s/h hold out.

if the directors do have 20%, then Beach will need to negotiate with them.

no doubt that Beach want 100% - no 50%.

actually of course, they only have to get to 90% !