rim capital not happy, page-18

under a scheme of arrangement, among other things, bhp need 75% of s/h's voting yes.

if i were CRM, i'd buy THX's shares for $1.40 or buy the same on market being 11.6%. I'd then buy enough on market to get 14.99%, which is below FIRB acceptable levels.

I'd then use 14.99% as a blocking stake. Would need only 10% of the remaining votes as a no for the scheme not to go through.

Once the schem does not go through, using the 14.99%, I'd over through the whole board. Effectively CRM could takeover UMC with only 14.99%.

Im sure many wouldn't mind as the board would be th end user of the resource.