what would you be happy with?, page-5

Original position $0.32 last Nov/ Dec - Charlie Aitken
Medium term holder now avg at $0.41
V/Large short term position bought at $0.49 post Hanlong bid.

I would be happy at $0.60 (with a real prospect of a counter from one of the big boys) - what is more important to me is the timing - we need this dealt with quickly, the global economy is in strife, sovereign risk / itchy fingers and potential loss of patience of Govts is my biggest concern, if credit markets close up again like 2 years ago SDL loses all bargaining power.

Seriously you can buy BHP / RIO on EV/EBITDA ratios of less than 5 times with none of the risk SDL has in financing / development.

I am hanging in with SDL though, want to get as much out of it as I can but am firmly in the camp that a JV will not happen. Hanlong have 18%, friendlies before offer probably have 7%+, DB 7%, Hedgies probably bought much of the 25% since the offer was made. Hedgies are not in it for development and will dump if they thought the takeover was going pear shaped - IMHO Hanlong already have a precomittment to 50+% & that is without us punters, price being the issue.

And I have no intention being a minority shareholder in a Chinese controlled company that has stated its "National Interests" - good luck to those who disagree with that