re: Ann: 2013 Full Year Results and Update on... Well Graham was...

re: Ann: 2013 Full Year Results and Update on... Well Graham was correct about the Moelis thing. Must give him credit.

A question I have is on basis can PXUPA holders be forced to take up an offer they may not be happy with? As I have said earlier I am more than happy with a voluntary deal where those willing PXUPA holders take up say a script swap or even cash offer. Not so keen where a significant number who wish to hold out till the good times return are forced to swap.

Would it require a vote of all PXUPA holders for a scheme of arrangement such as the recent Billabong one and if so would it requite 50% in favour or more perhaps (75%)? Perhaps Graham might know.

Not sure how I would vote. Suppose it would end up based on the details of the proposal. I hold both in roughly equal proportions.