my abacus may be broken!, page-17

putting the notes issue asside

All stone having 10% does is prevent FML achieving the 90% condition. This does not defeat the bid.

I believe FML has until 24/8 to declare the bid unconditional.
This is not a condition that would trigger the return of cre shares to those that accepted.

The bidders statement clearly outlines FML intention on how to treat CRE as a company if this scenario arises and they end up with a controlling stake rather than the 90%

stones 10% does prevent the compulsory aquisition of remaining shares. CRE would then continue to exist as a company, just run by FML as a majority holder.

The only way stone can halt this process is to put in its own bid for CRE - may be a possibility. If FML doesnt match it then CRE holders who accepted would get their shares.

in regards to the convertible notes vote, FML cannot vote its CRE holdings on this. Stone has nearly 30% of votes eligible for this based on their 10% holding. So the convertible notes being awarded to FML is no guaretee.

Who knows what would happen if this occurred.

Very interesting watching this play out.

Well done to those that sold out at 6.5/6.6, think you got a good deal based on the last few days events.

Good luck to those still holding, a higher offer may still eventuate.