if there is a takeover? whats a fair price?, page-25

You have to remember that the directors hold over 50% of this stock, so whomever is making the bid would know this. They can not give a low ball bid otherwise the directors can out-rightly say no to the bid. I would also say that the SPP will be included in the bid and if it is not I would pay it anyway. You will either get your money back or you will be honored either way it is a win win situation IMO.