elph speaks out.

for the full story:
http://au.news.yahoo.com/thewest/business/a/-/wa/12010605/elphinstone-blocks-sevens-bid-for-national-hire/


While remaining uncommitted about the maximum $3.75 a share offer, Mr Elphinstone said he still did not believe it represented the value of the company.

"We don't buy and sell things," Mr Elphinstone said after attending National Hire's annual meeting yesterday. "We are investors for the long term and this investment's not been any different to any others we make.

"We've done the hard yards in this business so I suppose our preference here would have been to have nothing happen."

"You've got to get below 50 shareholders for it to go there and you've got to go below 100 shareholders before you don't have to report a reasonable amount of information publicly.

"With 517 shareholders left on the register I reckon there's a pretty fair chance it might stay like that."


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