two weeks are up..., page-8

I have written an email to AMU's COO alternative proposal to current Scheme of Arrangement.

Instead of AMU paying 2-3c dividend, the share buy back should be reactivate now if possible.
Buying back 10% of AMU shares at 27-30c/share should cost about $8.3-9M, with current high oil price this should leave more than $14.5M cash for Eden by end of June 2011.

Even if Eden reduce the offer to $94M from the original price $100M (capped at exchange rate AUD/USD 104.99), the takeover price would be 34.8c ($94M/270M share).