Ann: Supplementary Bidders Statement, page-2

Yeah right

Such a generous offer

"Insert Sediment Here" Risco and the BOD + The Thai Guy for reasons I cannot say here

"3. WHY YOU SHOULD ACCEPT THE OFFER
Under the Offer, Tap Shareholders will receive A$0.091 for every Tap Share held (Offer Price).
3.1. Premium to Tap Share price
The Offer Price represents a significant premium to Tap’s recent and historical trading prices. More
specifically, the Offer Price represents a premium of:
• 49.1% to the closing price of Tap Shares on 1 May 2018 (being the last day of trading prior to the
announcement of the Offer) of A$0.061; and
• 65.5% to the 30-day VWAP at 1 May 2018 of Tap Shares of A$0.055.
The Offer Price also represents a 5.8% premium to the closing price of Tap Shares on ASX of A$0.086
on 7 August 2018.
The Offer Price fully matches the “preferred valuation of Tap Oil on a control basis prior to the Offer” of
A$0.091 per share determined by the Independent Expert, BDO Corporate Finance (WA) Pty Ltd, in its
Independent Expert Report dated 10 July 2018. The Offer also represents a premium of 15.2% over the
Low Valuation of A$0.079 per share determined by the Independent Expert. "