I agree with you on the "associate" matter and posted earlier a similar sentiment that if they are deemed ineligible to vote, then who can vote given the EGM meeting date was set well in advance of Stone's interference.
I believe you have interpreted Clause 4.1 correctly, however, it doesn't really matter now anyway Section 650E of the Corporations Act states:
CORPORATIONS ACT 2001 - SECT 650E
Right to withdraw acceptance (1) A person who accepts an offer made under an off-market bid may withdraw their acceptance of the offer if:
(a) the bid is subject to a defeating condition; and
(b) the bidder varies the offers under the bid in a way that postpones for more than 1 month the time when the bidder has to meet their obligations under the bid; and
(c) the person is entitled to be given a notice of the variation under subsection 650D(1).
This is the 1st part that must be met to withdraw an offer and now that the bid is "unconditional", it is free from "defeating conditions" and as such, people who took up the offer are now no longer eligible to withdraw. This is on the proviso that the TO Panel don't step in and make the conditions apply once again, in which case, it will likely pass the 1 month period (31st August), and then people can withdraw.
As it stands now though, as an unconditional offer, people cannot re-think their decision, withdraw, or accept a better offer.
FML Price at posting:
6.4¢ Sentiment: Hold Disclosure: Held
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