today's value - 36c, page-29

Hi Waiken, am interested in your view as to what Entree's price might do if an when the deal is confirmed. I know that some of the benefit will be factored in by way of the share issue but do you think the market will see the benefits over an above the straight value of PMH.

Out of interest I have been mapping the difference between the offer value and the trading price for the past 9 weeks. At the end of each week, the premium offered by the takeover offer was higher than the trading price by the following percentages. Note that the gap has been closing over the past 4 weeks and, but for our price manipulator on Friday, would have been 28%.
29%
45%
42%
56%
47%
51%
48%
42%
36%
37% (close of trade 1 April)