Eastern Hldgs

Eastern Hldgs: Offeror MBT Hldgs to make a unconditional offer for co’s shares at $0.18. This is a 30.4% premium to last traded of $0.138 on 8 Jun 2012 and 0.75x P/B. Co and concerted parties own greater than 50% of voting rights. The reason cited was due to the low liquidity of shares traded and MBT believes the privatization could provide greater mgmt flexibility to manage and develop its businesses. Most recent FY2012 results reported a loss of $620k