The thing is though that any scheme of arrangement, the likely...

The thing is though that any scheme of arrangement, the likely takeover structure used as it also allows for a spin out of TIVAN and/or Energy, has a very high watermark of 75% of those that vote.

After an announcement of a proposed scheme, it takes about 8-10 weeks to get independent expert reports, distribute the document and have the 28 day notice period for the meeting.

in my opinion, anyone that low balls in a scheme offer is just opening themselves up for shareholder voting it down or someone else counter bidding.

I reckon there is group of likeminded shareholders that are aware of this and would have ample time to attain the 25% of those that vote to kill any low ball scheme. even if shareholders are beat up at 9c and 50c is offer, those likeminded shareholders would not accept it and would encourage all to do the same.

I think all shareholders will get value though