Ann: Notice of Variation - Extension of Offer, page-7

SMR's business is coal production. As long as they run that business well, and can be seen to have more value than the bid, they should be able to fend off the bid and, in time, send the share price higher. What happens to the share price the day after the bid is withdrawn is academic - conventional wisdom says it will drop, but there is a distinct possibility that this bid has brought the company's value to people's attention and the 0.95 bid is actually holding the share price down. In any case, the share price now is $1, a year ago it was 0.70, a year before that 0.50, another year back 0.20, and a year before that not much more than 0.10. I am very happy with the way that management have run this company, and I'm not going to worry about short term share price if the bid is withdrawn. Longer term, I'm expdcting to get way more than a paltry 0.95.