The more one looks at it the more bizarre the option arrangement...

The more one looks at it the more bizarre the option arrangement over challenger appears. if the option is exercised we are in effect selling our asset in a self funding arrangement. There is very little in this deal for KCN. There are at least three other parties interested in the Challenger asset and they all seem to have been excluded in a manner that takes no advantage of potential competitive tension to improve the deal for KCN. No wonder KCN is in such diabolical condition. The directors have either been mislead or not terribly clever. let's hope that the right questions are asked at the AGM. Not only about Challenger but also about all the other areas of concern and bewilderment expressed by shareholders on HC. It must be some kind of a record for directors to preside over a share price rout from over $ 10 to less than $ 1. Unfortunately I am too far away to attend but good luck to those who can attend.