Ann: Result of EGM - Wind Up Resolution Defeated , page-15

re: Ann: Result of EGM - Wind Up Resolution D... LZA

Interesting result 23m (57.5%) for the wind up and 17m (42.5%) against.

When we go back to the A Class buy back 19m (75.1%) for 6m (24.9%) against.

The resolution didn't get up because the A Class in isolation voted the resolution down 13m (65.7%) for and nearly 7m (34.3%) against with only 71.5% of eligible voters voting.

If I now look at what's changed, its only that Trojan is trying to extract as much value for their investment. they missed the opportunity to get out at 63cents and now the SP has been trading in the high 30's low 40's.

I suspect that if the board comes back with an offer slightly higher than the 63cents Trojan may once again vote for the buy back.

keep in mind it's been over a year and a half since the last buy's back of A Class was offered up so not only have A Class shareholders lost from a SP perspective they have also lost the time value of money in the exercise (around 4.5cents)
I have bought some A Class purely on the view that the A Class SP will jump up again, but if it goes to a Vote I'm selling out before because I don't believe the A Class shareholders will accept anything less than $1.20 and I believe there is no urgency/need to buy the A Class shares back at that price for the company as it dosent make sence.
I am excited at the activity taht Troy is creating, and yes I believe he may be able to extract some additional value but I'm not holding my breath for something big and I'm sure Troy is a realist.