this is absolutely disgrace, page-11

As you may have read I had been made aware of an offer made by European Group to acquire management rights of PIF.

The approach came from a group who run 8 divisions with each division larger than OCV/PIF

The group themselves I understood to be owned by a european bank.

It is my understanding that they wished to enter Aussie mkt and the proposal included giving OCV equity in their new Australian operation.

ie smaller share of a bigger pie.

OCV instead have granted option to sell PIF to Hudson for 4 times net profits from managment of PIF and the net assets of the RE not PIF.

This is very smelly and a disgrace