Ann: EGM Presentation - 31 August 2012 , page-37

I agree with DrDann and onnet re JA.  Don't doubt his integrity whatsoever but did seem rather naive - others could see potential issues with wandoo that had eluded him until now.   Note also the independent director (who wasn't there) had been a director of rivercity motorways - hardly a shining example of a company that had done its due diligence.
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Re JV - not sure it has been mentioned here yet but the unnamed JV partner apparently has excellent relationships with some of the key landholders and that was also a factor.

On the split - not really much more than a gleam in the eyes of the board at this stage and there is a lot of work to be done yet. Certainly not a fait accompli.

Like others, and despite comments above, I came away feeling quite comfortable with my investment and that it is in good hands.