Reasons to vote NO (before Nov 5th deadline) on new CD Fund Insights blog, page-5

The text you quoted comes from near the end of Part 5.2 of Kroll report on P108 of the EM. That appears to be the only place in the EM that says this. I believe that it is wrong, and it contradicts the statements in the four Notices of Meeting , which state the following:

FUND 1

All resolutions will be decided on a poll. Resolution 1 will be passed if more than 50% of the votes cast by Unitholders entitled to vote either in person or by proxy are in favour of the resolution. Resolution 2 can only be passed if at least 75% of the votes cast by Unitholders entitled to vote either in person or by proxy are in favour of the resolution.

FUND 2

All resolutions will be decided on a poll. Resolution 1 will be passed if more than 50% of the votes cast by Unitholders entitled to vote either in person or by proxy are in favour of the resolution. Resolution 2 can only be passed if at least 75% of the votes cast by Unitholders entitled to vote either in person or by proxy are in favour of the resolution.

FUND 3

All resolutions will be decided on a poll. Resolutions 1 and 4 will be passed if more than 50% of the votes cast by Unitholders entitled to vote either in person or by proxy are in favour of those resolutions. Resolutions 2 and 3 can only be passed if at least 75% of the votes cast by Unitholders entitled to vote either in person or by proxy are in favour of those resolutions.

FUND 4

The resolution will be decided on a poll. Resolution 1 can only be passed if at least 75% of the votes cast by Unitholders entitled to vote either in person or by proxy are in favour of the resolution.

You have raised an important point, which I will query with E&P. I think Kroll is wrong: the combined 75%/50% hurdle occurs only in certain types of takeover bid. I assume that E&P's lawyers have checked that what the 4 Notices of Meeting say is correct. It’s not the only mistake Kroll made.

The special resolutions here are all of the normal 75% vote type- which certainly is a high hurdle but not as tough as the 75/50 that you have quoted.