re: Ann: Chairman's Letter re Scheme of A... Acecant, Highopes -...

re: Ann: Chairman's Letter re Scheme of A... Acecant, Highopes - evening,

Have conversed with Bundy on other thread, yes he's on the right track, possibly left a bit off...he's a B & S specialist you know!

From the letter,

"For the Scheme to proceed, the Scheme Resolution must be passed by:
• A majority in number (more than 50%) of ESG shareholders who vote on the Scheme Resolution;

*AND

• At least 75% of the votes cast on the Scheme Resolution."

Therefore, the majority vote YES or NO by holders..MUST also represent 75% of votes. The reason for this catch-all is posted in reply to Bundy on other thread.

That was Resolution 1, the scheme...ie (s)takeout ESG.

And from the letter again, on Resolution 2, the TRU acquisition.

"For the TRU Acquisition to be approved, the TRU Resolution must be passed by at least 50% of the votes cast on the resolution"

In this case it seems to be winner is decided by the number of SHARES voted, not a combination of Holdings and Shares as it is for Resolution 1.

Jake put it much more succinctly than I some time back, though that may have been on the BOW thread. So don't feel alone in your uncertainty. If still unsure, call the company for clarification, be wary of brainwashing tho.

Rgds,

Lilac