Ann: ED1:Response to Unsolicited Takeover Offer by 360 Capital, page-2

Evans Dixon tells investors to vote against the election of suitor Tony Pitt

Evans Dixon said in a statement that chairman David Evans would vote all open proxies against the election of Mr Pitt at the AGM set down for November 11."
The directors believe that it would be inappropriate to recommend the appointment of Mr Pitt to the board of the company while the takeover offer is proposed or continuing," it said."The directors believe that his appointment would put him in a position of conflict between his obligations to 360 Capital Group and his obligations as a director to the company.
"Evans Dixon advised shareholders who may want to change their proxies to lodge a further proxy no later than the cut off of 9am AEDT on November 9.The company has not changed its view on the approval of the options/rights plan and the issue of shares and options despite the proposal by 360 Capital, and therefore it has no plans to withdraw this item from consideration.It noted that the plan encourages all staff to have a greater involvement in the achievement of Evans Dixon objectives, and holding equity interests creates alignment between shareholders and those participating in the plan.Subject to shareholder approval, Evans Dixon is seeking to change its name to an abbreviated form of Evans & Partners – E&P Financial Group – with the troubled Dixon Advisory brand set to eventually disappear from the business.Dixon Advisory merged with Evans & Partners in 2017 to create Evans Dixon, which listed on the ASX in 2018. Certainty Advice Group founder Jim Stackpool said there was not much difference between the target and the suitor, with the target masquerading as a provider of independent advice."Looking at the Dixon site and the 360 Capital site, you can quickly see 360 has no issues saying they are an investment house.
But Dixon Advisory has come across and said, 'Trust us, we are a great advisory firm and we will advise you independently,' " he said." These guys [Dixon] have never made a cent selling advice. They have made a lot of money selling products."Mr Stackpool speculated that Mr Evans had found himself in a similar position as a forced seller, similar to those leading troubled AMP, which is now the target of a takeover offer from a US firm.