trading halt, page-22

I certainly believe we should absolutely reject the offer! I believe EPN has a lot of cheek in quoting the 5.5c as any indicator - after all, this was the low price deal under which we were heavily diluted and under which they themselves will have made a huge profit from their entitlement.

I believe the share price is also not a good indicator as I believe it has been artificially (and temporarily) supressed by the lack of dividends. EPN would have known this was going to be a factor. It is also possible that the mere presence of EPN on the register has also, (of itself) reduced the price.

It is also totally inappropriate for EPN to quote a 10% asset drop as equating NTA to its offer. Other REITs are seeing valuations go the other way! And in any case, shouldn't they also show some integrity by telling us what would happen to NTA if the values went up by 10% - huge upside I would have thought!
Alf