GiddyYup said:Recent developments are set to give a single party...

GiddyYup said:
Recent developments are set to give a single party the rights to majority control of the company. Not just a blocking stake, but a stake so large that nobody else can or would even consider making an offer without dealing almost exclusively with them first. Dreams of a mystery bidder appear to take a beating the moment this notes change is approved.

And GiddyYup said:
The formal offer hasn't been described as a takeover and the bidder hasn't offered holders much at all but if you consider the outcome, what exactly will the difference be ? Remember that the bidder only needs the rights to the majority of the stock rather than the stock itself.

I just don't have time (self employed) to get to the bottom of this at the moment - but on the face of it - the above two statements don't ring correct to me?

Last time I looked, ASOF have some 91.16% of the secured Convertible Notes, zero % of the interest bearing Convertible Notes, and zero % of the billions of fully paid ordinary shares. Unless I am badly mistaken about the mathematics - this does not remotely look they are about to be handed 'majority control' of the Company?

Having a nice story is one thing, GiddyYup - but of course it must also be underpinned by the facts, at least as far as we are able to determine. Where is your evidence that ASOF are about to be handed a soft path to 'majority control of the Company'?