Ann: 2024 Annual General Meeting Presentation, page-13

Thanks Ferrari

I strongly agree with your last sentence, in particular. The agm was one of the worst I have heard for a long time. RG will continue to treat minority shareholders with disdain, and the so-called independent directors appear willing to go along with that. At least we have the law and the listing rules on our side. Fortunately the accounts must be audited: even though there may be negative spin in the commentary, the numbers have little scope for being distorted. I am confident that, eventually, RG will get sick of having minority shareholders and will decide to mount a second takeover at a more realistic price. My guess is within 18-24 months, but that’s just conjecture. RG brought this impasse on himself by being too mean: if he’d offered perhaps 5c more he might have got over the 90% trigger point for compulsory acquisition and have it all wrapped up by now. I’m happy to wait, even with no dividends.

Not advice DYOR