Ann: Progress Report to Shareholders, page-7

I agree this is about the replacement of the Directors, however I was thinking in terms of the limited information the new BOD has to make informed decision on behalf of shareholders.

JBL are limiting the new Directors by not making all the information available. This could fall under Unacceptable Circumstances under Section 6 of the Act for the takeover bid by JBL (albeit it being a script offer instead of a cash offer) for HML and BHD.

I will make some further inquiries next week, but thought I would include the TOV's previous ruling for those who may have not seen it.



Full Release
25 Jan 2019 HML BHD.pdf