Ann: Market Update - Sep11 Loan Amortisation Targ, page-8

re: Ann: Market Update - Sep11 Loan Amortisat... NLG is having some interesting developments, that may or may not relate to RPF:

-1- a trading halt to clarify their debt position with their lenders- the senior lenders being GS et al, who are also our senior lenders. Some articles have mentioned that there may be an intention to merge RPF and NLG;

-2- Craig Laundy just resigned as a Director of NLG, effective immediately. Pure speculation, but if Mr Laundy is involved in any way with some offer for RPF, and an offer involved a merger with NLG, then Mr Laundy would have a clear conflict of interest (I think), and would resign as appropriate.

Either that or NLG is stuffed,and Mr Laundy is getting out quick! :)

NLG is in a trading halt until Friday or until an ANN is made re their debt. I am also guessing that we will also find out our debt fate at around that time?

It's all a big puzzle for the retail holder. We also have the "injection of capital/funds" proposal from Macquarie Group, and one would hope they know what they're doing. Retail holders would hope that any outcome would leave us in an equal to, or better position that either the GS offer of 8c, or the potential offer of 10c from Soul Patts (possibly delayed due to the extra cost of funding, says the AFR). If MQG do invest capital, one would hope it is at a premium- say 10.5c to have our SP with a floor. This is unless we go broke!