Ann: Trading Halt-KBL.AX, page-31

You would think that if Pybar were ever going to be the predator in the pit
that they are reputed to be, they would have moved by now, or refused to
accept shares in lieu and trigger the spill. And, if they are one of the biggest
we owe then surely they would be in a position to launch a T/O.

Either way, they must be considering if they could or should.

Not saying this TH is about that but where would our current shares stand if
Pybar took over? Don't want to confuse the issue, just wondering.

One thing is definite. The well paid managers of this company are having to
earn their pay at the moment.