coastal sitting on a 35.6% return

I have done some numbers and based on their current shareholding (per this avo's announcement) they will make a $1.163m profit which equates to an annualised return of 35.6%

I'm sure they are happy with that type of risk free return. The have nearly 15% of the shares so i'm geussing if they don't actively engage with the debt holders for a higher offer they are OK.

For each additional 1c above the 10c that's on offer Coastal will more than double their current return.

I think with their 15% they do have the ability to get a higher offer, but to then they wouldn't need a great deal.