Ann: Change in substantial holding, page-4

BTW, I don't have a large holding, but if BPC reps phone me about the offer, my reply will be that bcos the offer is below fair value, I do not intend to accept unless they get to 90% or they up the offer. IMO we need to send a clear message! No doubt updates of an increase in their holdings of less then 2% will make it very difficult for BPC to even get to 50% by 19 Sept. IMO the next couple of updates will tell a crucial story.

ANZ