tpg offer, page-6

And now management are upset.

TPG's offer is the best offer they got.

It would mean they are out of a job.

The "we'll put into administration" is because they know it is the only deal they can possibly accept and are out of a job and are now only concerned about their responsibility as directors and solvency issues.

Does anyone know what is in their contracts as to how many peanuts they will be thrown if and when they are sacked?

The other parties not too happy are holders of non- discounted debt. They could be trouble. They won't like the effective 10c a share they are buying with their debt. I think it will be less now that no other offers are anywhere near. How low can they go? No lower than GPG's average cost. About 8c I think.