Ann: CERCG withdraws indicative proposal to acquire 100% of AWE, page-25

The withdrawal is a good thing . 71 cps did not reflect fair value for a takeover. The fact that this represents 40% premium to the s.p is a load of b.s. the premium only related to what that particular person was prepared to sell a particular parcel of shares for on that day ,and in no way represents what everyone will sell for. Just look at market depth for a real indication of s.p value. If you wanted 100mill shares today it would push the s.p north of a buck!!. Glad the board held ground on this one. Besides all this could be part of the whole negotiation gambit.