At the current rate of acceptances, the average increase over...

At the current rate of acceptances, the average increase over the last two periods is approx 1.25% and assuming we will see another five more updates by 19 Sept, that is a total additional increase of 6.25% bringing the total to 39.1%. Unless we see some insto acceptances by 19 Sept or a large increase in the rate of acceptances, 50.1% is not looking achievable. An extension, at the least, is on the cards and if the rate of acceptances slows down, this T/O is looking even more unlikely without some serious uplift in the price.

ANZ