read well - latest announcement, page-34

yep, goodaye Buddy,
its interesting times.
i agree with what you say.
the tactic by Beach to declare the Offer as Final, means they cannot increse the Offer.
But that is the current Offer, of course - so if the current offer closes at say 80%, then in 6-12 mths down the track, Beach could come back with a higher offer. Who knows?

Declaring the Offer Final is a cunning move, because it really puts pressure on the remaining s/h.

I am certain the the object now of Beach, is to get the ADE directors to (a) accept for their own shares, and (b) to recommend that s/h accept into the offer.
All this by the 22 Dec.

I mentioned a while back that the nomination of Beach directors is intriguing, because ADE has to have some (even one) independent directors on the ADE board, so that they can process the Beach offer.

Beach is nominating 3 directors.
I think on the Beach Board, these three are referred to as "independent" directors !

SO i am suspicious that Beach will claim that these 3 are "independent" also when they sit on the ADE board!
And thats even tho they were nominated by BEach, and would appear to have a conflict of interest.

I simply don't know what the law is there.

and imho, you are right to wait until the last opportunity to decide whether to accept.

cheers