I think I will be voting in line with the independent recomendations.
For resolution 1 & 4 and against 2 & 3 (the solg and litigation upsides) .
Above references that they received other proposals for debt but chose not to go with them as each restricted how they could vote Solg shares. That seems a poor excuse, given we are probably paying double the overall cost of loan to keep those voting rights. The report mentions the actual cost of the facility is between 26.7% and 54.3%!
Given they have no intention of signing up to cheaper debt, they plan to dump 30% of the SOLG holding on market if the loan is not approved, and there is a 1m break fee payable to Mather if it is not approved, we are backed into a corner. Only way through is to limit the cost by voting down the upside.
DGR Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
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