What I need to know is... what is the risk of holding on...until...

What I need to know is... what is the risk of holding on...until 90% day?
By all means hang in there until 90% day which may never come in this present takeover .
But if Ramelius get to 80% then they can elect to delist Musgrave ..after 2 months of the necessary notice period.
Whether Musgrave retains its public company status with more than 50 shareholders then become very important .
Ramelius, the company, can then say to the Musgrave company directors 'change the Musgrave status to proprietary and insert these cluses into the constitution '.Musgrave is then effectively a vassal of Ramelius ..subject, however, to 'oppression of minorities' law.
So, it's the delisting of Musgrave that is your main risk.
Do check into the market before the present closing date of 15 September because it's possible, if you don't, that by then Ramelius has sept past 80% [ which gives CGT capital gains relief for those shareholders who have accepted] and past 90% which means that you eventually get your RMS shares in a compulsory acquisition process led by Ramelius. In that event you will have missed out on the RMS dividend which is likely to be announced on Monday.