I too think it will stay around here (25c) until they...

I too think it will stay around here (25c) until they internalise management which should be done at a meeting in June/July by that latest announcement. I'd expect at that meeting they will present what the takeover terms are and whether they recommend it.

The way I see this stock at the moment it's basically a punt on the takeover offer being higher than here and as they have already said they'd cap the management payout if the stock is over 40c, perhaps that's an indicator of where the takeover offer is.

Taking a 3 month view I like the odds and am a holder, but then again I am just a mug punter.