blocking a scheme of arrangement, page-4

This is Mr Lincoln Augustus, first second cousin of Holymagiman

It’s getting on in the evening and we are just back from the wedding of Baboo Runchik’s sister’s third cousin’s son. What a wedding it was, and the celebrations are still going on, but we felt that enough was enough, and so we took our leave.

And to think that that wedding could well have not taken place, what with all the formalities that they had to undergo.

Jackson Jovo, the groom, first announced that he was thinking about marrying Penny Shooshiram some months ago. So while the elders sat around, some negotiations took place in the background as to how many pigs who gave to whom, and whether any buffalos were to be considered as the time passed on.

Then they had to draw up a formal plan formally apply to the parents, who sat on it for a couple of weeks before they consented.

Then they had to apply to the village Court for a hearing date wherein the Court could look over the documents before giving consent. Gosh, that took a few weeks for the Court to give them a hearing date. And it appears that the Court was not going to sit over the Christmas period, so that set them back a while longer.

And then, when they got the Court’s consent, they had to have a meeting of all the family members to have a vote to see if the majority of the family agreed to the union.

And that sure took a long time, because they had to call a special meeting of all the relatives near and far, and this meant that they had to give everybody one month’s notice, so that people could leave the hills and the valleys and the boatsheds and the mansions and the garden sheds and where ever else they had been residing in and attend the meeting to vote.

So I gather that by the time they had negotiated how many cows and pigs were needed, and applied to the parents and got their ok, then got the Court consent (after waiting out the period over Christmas), then given a month’s notice to everybody to attend and vote, the time had slipped away so imperceptibly and they found that about four months had passed by.

And this got us thinking about Orion’s proposed match with GGX, and we suddenly saw the similarity with this match.

First the two companies have to negotiate the terms of the merger, then they have to draw up a Scheme of Arrangement booklet for ASIC and wait for ASIC approval.

Then they have to apply for a hearing date with the Courts for approval of the Scheme of Arrangement, and we believe that the Courts do not sit during the festive season. We may be wrong but we think the latest date for a Court hearing this year is in late November, and we do not think this merger proposal is going to be making any applications to the courts by then due to time constraints.

So we look at some time in the New Year for a court approval.

Then the companies have to put the proposal to the shareholders at a General Meeting for a vote on the Scheme of Arrangement, and the shareholders have to be given one month’s notice about the General Meeting before the GM can take place.

So, by the family’s calculations, the earliest time that the General Meeting can be expected, provided there are no glitches, is sometime in February 2010.

So we feel that Orion has plenty of time to dig and drill and do all the other things that the Board might feel it appropriate to do to prove up its true worth.

And if the company does nothing in this time, then perhaps some questions should be asked.

Anyway, that is what we feel is going to happen, but we really do not know if what we have written above is fact or fiction, seeing as how we are all very confused by the comings goings on that are taking place and we have drunk a surfeit of Red Stripe and breathed too much of the smoke of the Numba One.

And we hear that Penny Shooshiram has already given Jackson a black eye, and the first day of their marriage is yet to be over. Ah, the joys of married life in an unsuitable marriage.

Blessing of the Lord
MLA