Unfortunately after an initial read of the latest documents I am not at all confident that the current Board could guide CER to a successful outcome should the Aggregration not go ahead... not very encouraging.
Just a quick comment on the dilution down to less than 15%... essentially ex-CER shareholders would no longer have a hope to defeat a proposal which required a supermajority vote. As far as I understand it, the CRA Board could decide to delist the company from the ASX etc.
If someone who is a bit more up with the finer aspects of corporate law and the CER constitution than me could comment I would appreciate it.
CER Price at posting:
27.5¢ Sentiment: Hold Disclosure: Held
