Ann: Merger Proposal Update, page-2

Just one week on and they must have:
1. been utterly roasted with terrible feedback; and
2. already formed the view that the vote is doomed to fail unless something changes drastically.

But even with this change it's still a shite deal for CD1 and CD2 particularly, and only very slightly less shite for CD3. Key residual issues off the top of my head:
1. If the funds all retain the status quo, 1/2/3 holders will get a big fat payment in the near term. If the merger occurs, we all get zip till Dec 2023.
2. The redemption funding - and, again, they're still only planning to commence redemptions from Dec 2023 - will largely come from 1/2/3. Holders of 4 will hugely benefit from a merger, to the detriment of 1/2/3 holders.
3. E&P will still be pillaging us for FEES FEES FEES FEES FEES NOM NOM NOM GIMME MORE FEEEEEEEEEEEES.

I can't see any way that they could adjust the deal to make it a good one for any of 1/2/3.

VOTE NO!