what takeover

Rim no doubt you have done a great job with the NO website and frequent postings setting out the improved position and outlook for CSM.

Let's just put the thing in perspective. Forget the Gilbertson/Baxter mumbo jumbo about $1.38 in cash and 2 shares in the new Consmin. The offer is really $2.38 per CSM share for upto 60% of the company.

Current SP is $3 with outlook very positive. So who is going to sell a single share to Gilbertson for $2.38? NOBODY. Certainly not a substantial shareholder or a Fund Manager. The original takeover is dead. It was a poorly conceived and pathetically executed strategy to steal the company. Truth was it was never gonna work. It will take at least $3.50 per share IMHO.

The whole episode has shed light on some fundamental matters for CSM shareholders. The continuing support for this ridiculous offer by the Chairman and the MD has left the company management seriously weakened. The apparent lack of integrity of Carter and Baxter and their complete disdain for CSM shareholders leaves no other outcome than their removal.

We need competent maagement commited to maximising shareholder value to ensure the potential of CSM is in fact realised. Carter and Baxter have to go.

If Gilbertson does not up the bid, and the offer laspses, Carter and Baxter must be history. Surely they would not wait to be fired.