Can anyone explain to me how the Demerger has any chance of success? Comments over the week-end by three Institutions who have perused the Demerger Scheme have described it as - 1. Madness 2. Uninspiring,underwhelming 3. Only beneficial to the Board members incentives and their Financial Advisors; of no benefit to Shareholders whatsoever.
Those are fairly harsh words to be prepared to be quoted and printed.
The Board has said that typically less than 50% of Shareholders actually vote and this particular vote requires 75% of those proxied or present. MCB has already said his 11.4% will be to oppose therefore if he receives 3% support the Demerger is dead and buried.
AGL Price at posting:
$8.43 Sentiment: Buy Disclosure: Held
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