Ann: Investment Report & NTA Update - October 2017, page-16

in all fairness, there shouldn't be any dramas with naos complying with the existing IMA, it allows market caps of 50-350 mil from memory?

i don't think they would be exposing themselves in such a fashion until the votes are cast, and then again they would not be in this deal paying cold hard cash to CGA being iffy on getting the votes. yes, they need to prop up their own investment ,but now it all starts to look like a well calculated move especially looking at rumors of CGA shedding most of staff and moving house to Sydney.

what also worries me is there's no direct public opposition, and we all know who the other substantial holder is, their capability and public activism on a number of occasions recently - and it increasingly looks like he is giving his silent approval which is pretty disappointing to say the least, makes me wonder whether there was contact with requisitioners and some sort of a deal struck.

sorry for a wall of text, not happy jan!