buyout !!!, page-3

Hi topsy99,

I am doing very nicely on the TTXPA's and it would seem no matter what the outcome my $70 investment is coming back at $100 within a year:) The TTXPA's were a no-brainer for patient money if ever there was one. Mind you those who backed the heads during the sell off have done even better... fortune favours the brave.

The offer for Epic is compelling for shareholders and cunningly positioned. Namely because they have tied it to internalising the management and wheening Hastings off the comfy tit from where they have grown fat and lazy. This would be a great thing for HDF shareholders but not for Hastings obviously.

The outright rejection of the advance by independent directors is just further proof that independent directors are anything but! Appointed by the board, the job is offered as part of a comfy circuit these old geezers free ride on and of course a certain loyalty is demanded in return. If you weren't a good-ole-boy then frankly you wouldn't be there in the first place.

The ploy of tying the Epic purchase to internalising management fees is obviously aimed at by-passing the insiders club and trying to get the shareholders to back a deal outside of the sales process while sidelining the Board. Although I, or the market apparently, don't feel confident this particular offer will get up (never back against board self-interest as a rule) it does seem HDF will sell something for enough to rid themselves of their debt probelms. Certainly enough to pay me my $100 ta very muchly.

If only these gifts fell out more often.

goodluck