takeover Skip, page-199

If Management were going to play the patient game we wouldn't be here. Skip Capital's updated offer (AFR report 25 cents but could be higher nobody knows forsure) is on the terms that Management would be in favour of the offer and asking shareholders to approve it. So there is no offer if Management aren't in favour. Therefore, Management having taken so long to respond is clearly in favour and an updated offer is coming. In relation to the second bidder I think I saw a article saying that given the major project was in early stages of development they wouldn't be interested in it right now. The patient game is to wait to finish Hydro, Bouldercombe Battery, and perhaps even begin Kidston wind and finalise phase 1 of Bulli Creek battery and transmission line. Then to see if there is a better offer. But clearly Management want out now (at least a payout) and then continue in the new entity.