Folks,
I would not go to any meeting expecting any meaningful discussion of possible alternatives , since Article 5.1 (q) of the Scheme of Arrangement explicitly prohibits this, quote Central’s obligation, to promote to its shareholders the merits of the Scheme, including soliciting proxy votes in favour of the Scheme unquote.
Furthermore, Article 13 prohibits from any discussions that may lead to a Competing Proposal during the Exclusivity Period, which is defined in Definitions as amongst others, 6 months from the date of the SoA.
Also, the ASX Announcement refers to the CVN’s as providing exposure to future exploration success concerning Ooraminna, Palm Valley Deep and Mt Kitty. Yet if we turn to the Trust Deed Section 18, it specifies that Bidco is under no obligation to conduct any exploration or appraisal activities in these areas at all. And no comment re remaining potential at the Surprise field, or possible deep objectives there. This has really been stitched up. However, it is my understanding that shares held by MB cannot be counted re the Headcount or the share vote count since they are the beneficiary of a yes vote. Much like Directors not being able to vote on their own remuneration packages.
If I have missed something here I am sure this will be pointed out.
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