At this 1000 AEST webcast, CEO Daniel Tartak, CFO Chris Jeffrey and Elizabeth Crouch (Chair of the Independent Board Committee) were present.
Mr Jeffrey repeated some of the points in the media release. While he was speaking, the share price increased to A$3.42 on-market.
Tartak and Malouf's holdings total 31.57 per cent at present, so their acceptance of the unlisted scrip and mixed cash offer will ensure its success (assuming rival bidder(s) do not emerge).
There will be an investor hotline established.
Mrs Crouch said that its independent committee had unanimously agreed with MIRA that the proposed Scheme was in the best interests of shareholders, subject to an independent expert continuing to agree 'best interest' for existing holders and no superior offer emerging.
Tartak said MIRA's willingness to invest more than A$2.3 billion in the business showed MIRA's confidence in the business model and 'we want to part of it'. MIRA holds other waste-related companies around the world.
(This Tartak message tells me that everyone ought go for the unlisted scrip alternative, not the pure cash offer).
I would have liked to ask BIN management about the almost certain scaling back of the alternative offer, but there was no telephone number given to contact the briefing organisers.
There were no questions so this concluded at 1017 AEDT after going for only 14 minutes.
