It does. The way I read it, we can probably only count on around 20% holding out and refusing the offer, which means while they probably won't reach the 90% required to compulsorily acquire our shares, they may well reach enough to pursue ASX delisting, leaving those remaining with just a stake in HML as an unlisted subisidiary of JBL.
I'm still a bit confused about this vote though - they've made it clear that they haven't used acceptances of the offer to increase JBL's votes, but they've obviously still allowed those people to vote and counted that, even though the bidder's statement says that "By returning the Acceptance form you will be deemed to have "agreed not to attend or vote in person at any general meeting of HML". Meh, I guess it doesn't matter - one way or the other, those votes are on JBL's side.
HML Price at posting:
$1.99 Sentiment: None Disclosure: Held
