What does the future hold?, page-6

Hi Little Gem...for the record I should say I am not offerring any "advice", but in relation to your question I offer the following opinion...

I could go back over the history but I haven't done so, but from memory Brisbane Investments is the vehicle of AMCI who WAS the other 50% partner in the WPIOP.  They sold down their half interest by 49% (ie 24.5% of the  total) several years ago to POSCO the large Korean steel maker (possibly the world's largest I think).  I am not certain but I believe POSCO is still owner of the 24.5% of the WPIOP.

I believe the AMCI vehicle "Brisbane Investments" which now owns 25.5% of the WPIOP is also the owner of the stake in RHI.  IMO AMCI/Brisbane Investments would only be a seller of their RHI stake if they can be taken out of the whole venture by someone.  That could be Baosteel/Aurizon.

I relation to Acorn I think they are just there to make short to medium term returns for their investors so they could well be a seller.  However, they would be acutely aware of the long term value story and may choose to stay in unless they were offered something very attractive.  Any such corporate actions involving significant percentages of the shares on issue could trigger takeover provisions.  I am not going to speculate on what might happen beyond that.  Please do your own research as my memory is vague and my thoughts are simply that.

regards
DF