takeover bid from sol & iva ..., page-25

Relax everyone, this s great news.

IVA have been told by RIO to sell their stake. SOL have picked it up above where we are currently trading and need to make a takeover offer to allow them to go above 20%.

Now we will have SOL at 35% (plus any additional amounts they pick up from desperate sellers) and we will have a nice tight register going forward with no overhang.

It is smart on the part of SOL - no downside for them. They will stay at 35% or so going forward and then launch again down the track.

You watch the royalty issue being cleared very soon.