frs merger - we are not quite there yet

I have been spending a bit of time looking at what Wah Nam needs to do it they want to merge BRM and FRS.

Well they are not quite there yet.

"Shareholders must vote on a special resolution, which means 75% of shares have to be voted in favour of the resolution plus 50% of members who vote must approve."

So the b*stards are still 20% short.

I cannot see this happening unless they dilute the hell out of Brockman and transfer to associates.

A short, concise document from the tax office outlines the key regulations.

The only way I could see a BRM-FRS merger would be if the BRM board agrees.

They may wish to merge their BRM stake into FRS, but if Wah Nam wants to develop Marillana, and take us along, or offer us fair value.

http://www.ato.gov.au/businesses/content.aspx?menuid=0&doc=/content/00266705.htm&page=17&H17