re: Ann: Change in substantial holding in EXS... "I can always...

re: Ann: Change in substantial holding in EXS... "I can always be proven wrong if another bid arises, but I would have thought that if XST wanted EXS that they would have shown their hand before now."

Maybe you are right, and maybe not. Such is the way the sharemarket plays.

But, I can still remember clearly when AOE was planning to takeover PES, and it was nearly all over and done when, on the last day or so, in came BG and put a higher bid on the table.
Then AOE put another one at a higher price and then BG went in with another one higher still. In the end BG won the race and the shareholders ended up getting $8.25 per share.

I know that not many of these cases repeat themselves over and over. But, the moral of the story is, that until the fat lady start singing, there is always hope. And while there is hope, the fat lady will not start singing.

It could very well be the case though that, if SOL makes that offer unconditional as you have stated, the bid could fail because, what they have stated so far, is that unless they will receive 90% of the total shares on issue, they will only pay 19 cents per share.

As such, I very much doubt that the Board will sell their shares at 19 cents per share. Especially after their originally statement that the offer at 19 cents was way below value.

Good luck.