If MIN are truly serious about this Scheme of arrangement, then if it is to have any chance of success (to get 50% of holders approving it) they will need to offer a cash alternative.
Alternatively, MIN will need to abandon the Scheme in favour of a good old fashioned Takeover bid also with a cash alternative, so that they can buy on market below that price in the lead up to the offer closing
Ann: Chairman's letter - Scheme of Arrangement, page-26
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