I spoke to ASIC this morning, and was referred to a document called "Members' Schemes of Arrangement" - you'll find it if you google it. They advised that it would require on a show of hands 50% plus one shareholder to effect a majority vote (although this can be dispensed with by the court), plus the resolution for the scheme must pass with a "75% for" on votes counted for the resolution.
In order for management to get this passed, surely they realise that a series of positive announcements with revenue attached has to be released prior to the vote. Ideally shareholders should have the option of selling their shares on the ASX at a profit or they can remain shareholders in the US listing.
Trust in management, whilst now at an all time low, would be resurrected if a series of positive announcements (eg deal wins) were announced.
I'm hoping there is good news on the horizon.
(20min delay)