Ann: AEL's Increased 42 cent offer for Adelph, page-25

re: Ann: AEL's Increased 42 cent offer fo... My own position is this:

1. I am holding out for a decent share price, regardless of who 'owns' us.

2. I read the statement as the director's capitulating and saying "the games up, we can't hold off on AWE getting 50% and therefore wiping us off the board"

3. It's a bit more like sour grapes from the directors IMO, even if the hedge funds sell...I still don't see a compulsory acquisition scenario. It just reeked of the directors saying "this is all too hard, maybe if we roll over easy we will retain our board positions"

We just need to stick to our guns at least until the 8th of July and see if any other offers are forthcoming. These types of shenanigans surround a lot of Oil and Gas juniors, look at the play for QGC by Santos, which was ultimately snaffled by BG.

We have a commodity that others want, we have ADI shares. We will make them give fair price by holding firm.

All IMO, and like others, am frustrated by the obvious sideplays that we are not party to.