Ann: Transaction Update, page-35

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Therookie88

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15/11/23

17:06

Post #: 70921261
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Originally posted by sabine: ↑

No ridicule Rookie!

The position of the 22 correspondents who want to register a no vote is ACKNOWLEDGED!

But given none fit the qualification of ‘market participants’ it seems the votes can not be formally registered particularly in the light of the 22 appearing to have signed some kind of erroneous chain letter that does not follow ASIC guidelines!

…“TMT has also received written correspondence from 22 TMT shareholders (representing approximately 9.29% of the issued capital, in aggregate, on an undiluted basis) indicating that they intend to attend the scheme meeting to vote against the Scheme in the absence of a superior proposal. Further details regarding these shareholders (including their identity and holding) is included in the scheme booklet.

The Company acknowledges the position of these TMT shareholders.

However, it is unlikely the correspondence received from these shareholders gives rise to binding obligations in accordance with ASIC's Truth in Takeovers Policy under ASIC Regulatory Guide 25. None of these TMT shareholders fall within the definition of ‘market participant' in ASIC Regulatory Guide 25.

Furthermore, it is not clear from the wording of the correspondence received whether these TMT shareholders intend to be bound by ASIC Regulatory Guide 25, particularly given the correspondence from each of the TMT shareholders is identical, contains a number of errors and was received prior to the public release of the scheme booklet (and the accompanying independent expert's report).

Consistent with regulatory guidance related to these types of statements1, TMT has concerns there is material uncertainty regarding the binding nature of these statements, and that the shareholders may be able to change their mind and vote otherwise than in accordance with those statements at any time without notice to TMT.

Should any shareholders have any queries or concerns arising out of their review of the scheme booklet following its public release, TMT will endeavour to address those queries or concerns, with any such engagement remaining consistent with the balanced disclosure in the scheme booklet.

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the way it looks to me is people sent in voting intention statements in good faith after been given a few weeks to stew on it

imo TMT or more likely AVL have made sure lawyers find reasons to make them look like fools and discredit them

the bottom line is they intend to vote no. whether it's an official legal document is irrelevant. they are essential informing the company in advance in what way they will vote. if AVL choose to ignore it I guess they will find out on the vote day whether it really mattered if they were not legal documents or not and whether they should of acknowledged them

TMT Price at posting: 23.0¢ Sentiment: Buy Disclosure: Held
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Ann: Transaction Update, page-35

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