"The profit for the Group after providing for income tax and...

"The profit for the Group after providing for income tax and non-controlling interest amounted to $43,674,258 (31 December 2017: $17,985,993)."

The takeover panel has a lot to answer for IMO.

Why was Order 3b(vii) removed on 21 Nov 2018 which previously made reference to "a material decrease in the Tribune share price"???

"notify ASIC as soon as reasonably practicable if (without being obliged to do so) it forms the view that disposing of any or all of the Sale Shares within 6 months from the date of its engagement would result in the material decrease in the Tribune share price"

https://hotcopper.com.au/threads/an...4596049/page-10?post_id=37202647#.XIszxxo_WhA

By removing order 3b(vii),  Morgan Stanley was effectively given carte blanche power to give away 11.05 million TBR shares to EVN at well below true value because they could just point to the share price as a measure of value, which under the circumstances is a totally distorted measure of value.

This whole affair needs a government enquiry. I'm going to start putting pen to paper and start a whole bunch of agitations at the takeover panel and wherever I can find an open door or mail box in the corridors of power. Institutionalised theft should not become a feature of our system of governance. The takeover panel needed to have done better research in this situation as to the real effects on shareholders of its decision making and the orders that it made.

Don't even get me started on the low ball NST offer and the statement made by BB in a public announcement that $150 million was a fair and sensible price for 49% of the EKJV. That needs a whole seperate enquiry or some sort of court proceedings to sort that one out. Talk about actionable.

The TBR board have been weak and lacking in the defence of the company. The least they could have done is release the Agornaut valuation. If they had any real cojones they should have taken it all to court and hung ASIC and the rest of these leaches out to dry. ASIC don't have money to fiight these things. A nice payout from the government and a few of these other leaches would have been a brillant way to show them who is boss. Esh