Bushkin, its 100% legal and the way most companies now do the small shareholder offers - otherwise they just don't work !
In this case though I find it amusing that the AGO Directors are doing it at a time that best suits the interests of the Directors and the bidder, MIN. If it was such a great idea and they were acting in the genuine interests of all shareholders "previously" then they should have eliminated 25000 shareholders last year, 2 years ago, 3 years ago ! Yes it will help them reduce admin costs of sending out all those documents, but why should that worry them now, the Directors are happy to hand it all over to MIN anyway.
I think they now know they have stuffed up by going with a Scheme of Arrangement and the requirement that they must get 50% or more of all Voters (not votes) to get this cheap and undervalued deal done. By playing this card, I think they are showing how desperate they now are.
Small shareholders - send back the retention forms and then have your moment of revenge for past sins of management and vote NO to the takeover. What do you have 2 lose, $50 worth of shares ?
AGO Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
