Actually I think this may be having a problem. As I understand...

Actually I think this may be having a problem. As I understand it they need 50% plus one shareholder by number to vote in favour of the scheme at the scheme meeting. They can certainly get 75% by votes but there seems to be a lot of small holders opposed to this.

The court can waive the 50% plus 1 if it decides too, but oppression of minorities not a good look.

Allans Handbook on takeovers in Australia - Google it. Suggests that a scheme should take 107 days if all runs to plan. They suggest that ASIC approval should be around 57 days. - right now we are at 64 days. We don't have expert report nor ASIC approval. I would have thought they had this ready to go given the time they have had to run this through the mill. I would have thought that instead of taking 6 weeks to prepare draft document the company would have had this already pretty much done plus they would have consulted the expert to get a view on the valuation as well. It just seems to be dragging and no communication other than PPT selling. They could also be just letting it delay as they only committed it to 1st Quarter of 2024 to complete - That is 31 March.

The acquirer already has 19.6%

Have they been receiving complaints from small retail shareholders - so as to make them concerned about reaching 50% plus 1?

I cannot say that this has been a good investment for me and I would have liked to hold my shares.