they wont reach 75% required for the scheme of arrangement as...

they wont reach 75% required for the scheme of arrangement as holders know the value from Kidston Pumped hydro is just around the corner with no work or investment required.

They may reach the 50.1% for the offmarket takeover to be enacted meaning those who want to sell, can at .27.
However they won't reach the 90% required to acquire all shares of gnx at that price.

The remainder who hold will part own gnx alongside JPower who have deep pockets and will fund the growth of the business with more batteries, wind, and Pumped hydro. Those who remain holders will likely get offered more down the track by JPOWER in order to acquire the whole company. Could be 28 or 29 or even 30 cents for those who hold their ground.

in the mean time, if jpower take too long KPH will be online, revenues and profits will increase significantly and Jpower may have to cough up 35 cents or more per share.

It's really not rocket science. JPower see significant value coming and are trying to snap up GNX before then. Those who hold out stand to benifit more than those who opt sell at 27.5 or 27 cents.