Could I get some clarification on these points from published reports...
What creditors have we not paid or outstanding debts?
What evidence do we have that Shandong have bought or sold shares and when? I saw that the offer changed but is there any evidence of share purchasing? Ok I did the calculations myself...
The AGM resolution is 4,501,997,651 shares, the shares on issue (from annual report were 4,320,773,701 + 51,733,846 options. This would mean SG buy 50.7% in this offer, but the AGM resolution says they will then hold 51% fully diluted, meaning they hold 0.3% now or 26.6M. This can be checked by adding 26.6M to the 4502M on the offer and dividing by the issued shares only, to get 51.3% which is the figure in the report. So on based on what we vote, they hold 26M shares. I do not know what the difference of 50M between the announcement and the AGM report is, maybe some options expiring, they could not have owned -24M shares at the time of offer!. I would hope it is not a mathematics error in negotiating the deal!!!
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