Not wanting to argue on the internet Al, but would like to point out the following in rebuttal;
1. Neither you nor I stated how you would have voted. You implied, and so did I.
2. Your assumption that whoever bought your shares would vote Yes may not necessarily be correct. Am chatting regularly with quite a few long term holders who oppose the current Scheme and are purchasing at present. As you mention, Macquarie will have a Plan B and often in these situations it is not uncommon for a revised price to be offered at the 11th hour. (I am not saying that's what I think will happen, it is just one possible outcome)
3. With regards Valuation, I have stated a number of times generally why I think the valuation is not correct. As you know, in these circumstances the company engaging the IER usually is not surprised by the outcome, as the information is steered in a certain way. My personal valuation with a reasonable takeover premium is over 30 cents, and I have my own supporting calcs for this, which I do not plan on sharing here. This excludes the CVN's which I agree with OptionCo on, they need to be revised to provide incentive and lower the hurdles to encourage them to be actually worth something.
Your view is duly noted, as I'm sure you have noted mine.
All will be revealed in the coming week; if the Scheme is accepted in it's current form I'll acknowledge you were correct on this forum. Likewise, I assume you'll do the same for me if the outcome is different?
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