but the board has appealed to the TO panel exactly for this reason - non compliance of the holder to declare intentions after exceeding the threshold... and they have requested that their holdings not be used to vote in the GM - they want SDI to not vote and if SDI has 20% that means the board wins...
question for SDI - do you guys have crossed any threshold - 5% for substantial holder notification and 19.9% for TO? If not, then this is just a misfired missile by the management and if yes, SDI has done a great faux pas by not complying by the rules... they should have known that any misstep on their part is going to result in such action by the management which looks like a deer caught in the headlights atm...
I personally wish that SDI has 20% of the registry - highly unlikely but would prefer an unknown angel over this known devil for once
Ann: Application to Takeovers Panel-JRV.AX, page-6
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