Ann: MVT: MERCANTILE ON-MARKET T/O OFFER FOR RICHFIELD INTL. LTD, page-4

The 20c on market offer only rpresents the $13 mill in the till.
This is a profitable specialist shipping company located
in Singapore (good shipping space with low tax) and,
IMO, has great prospects.

IMO, the fair market value should be at least 30c and
the 20c offer will have to be lifted close to 30c, IMO,
to gain any real traction.

It will be interesting to watch the sell side of the market over the next month.

MM