Ann: Northern Star makes $150M offer for 49% stake in EKJV, page-31

No I think the offer needs to be unpacked by a senate enquiry and the role and powers of the takeover panel be reviewed in light of what is happening here. I also think it is time ASIC got disbanded and new organisation is put in its place. They knew about the Rand Tribune illegal crossholdimg for 8 years and did nothing about it.

Shareholders of the two companies can’t be punished like this by a totally inadequate offer sanctioned by ASIC and right under their noses when ASIC were part of the problem that gave rise to the situation in the first place.

This is institutionalised theft if it succeeds. The forced sale of Rand and Tribune’s gold at a non-optimal time and less than optimal price and now they are trying to take the joint venture interest away for 62% less than the market value of the companies and an ~85% discount to the implied value based on the EKJV’s share of 2018 full year production. What a complete disgrace. Esh