Ann: Notice declaring T/O bid Unconditional, page-7

imo they have gone unconditional at this time as that is the only way they can get more shares. they will scoop up as many as they can on market at 40, then offer a sweetener to the rest of us soon. \

this is exactly what I would have done in their situation. why not declare unconditional, buy as many as the market will feed you, then bid the rest up down the track. costs them less in the long run as those who sold on market today potentially miss out on the sweetened offer.

it is clear that the reason that no one accepted 40 was because they didn't know time frames for payment. cash in 3 days is too big a lure for some it seems. LB have potentially picked up 3-4% today. We will know on monday when they must lodge a change in holder notice.

this is all just a process.

in the mean time management are issuing one liners telling us to take no action (can only assume that means on market too). they must know that another bid is close to coming to fruition or have something up their sleeve that will propel the price higher. WCL is seriously in play now and any other bidders have about 2-3 business days imo to lodge a bid before LB start gaining too much possession.