will this stock jump today ebit +1025%, page-5

My hope is that there are sufficient Ordiaries holders to scuttle the possibility of a low ball bid.

The wind up proposal placed a value on the ordinaries of between $1.84 and $3.44. Im geussing the true value of the ordinaries after paying out the A Class at $1.20 is closer to the $2.50 to $2.60 mark.

The true way to realise value for all shareholders is to wind up the business otherwise the board is really not looking after the shareholders at all and have their own interest at hand.

Don't be surprised if the board is seeking somebody to take out the business in total. if an offer was made to take the business out in total it doesn't require the two classes to vote seperately and so only requires a 75% majority of the combined classes of shares. This could be a way the directors end up paying a lower value for the A Class than the $1.20. The constitution only states that the directors must try their best to get the same offer for both classes. I cant's see how this works when the the directors & associates hold >54% of the ordinaries and would need to negotiate a lower value for the ordinaries than to satisfy this requirement? doubt that.

I still believe their goal wll be to rid themselves of the A Class trouble makers, however they know that the A Class trouble makers hold at least 5% of the ordinaries as well and I'm sure that other ordinaries would fall in behind them if they were to feel a low ball offer was coming in.

My view wind the thing up and make everybody happy.

Lets face it the Catelan's and their associates would still walk away with a profit of between $12.1m and 41.1m depending on wether they get $1.84 or $3.44 per ordinary share based on the wind up proposal.