If this went ahead another potential issue is Todd and their partner could have more than 75% of the vote giving them possible control of any special resolution.
We lose 60% of the company, Todd has 55% of the remaining 40% which is roughly 22% of the company. Todd and their friend now has 82% of the company. If that is right or close to being right then we might not have too many rights left.
I'm still not all over the figures presented and am happy to be corrected but if the above is close to being right it could leave us in a potentially vulnerable position. Seeing what happened with the attempt to delist the company and all the other related issues it doesn't give me a lot of confidence. Hopefully OCJ who at the moment have a lot of influence, can see their influence possibly disappear with this proposal.
Regards
Geoff
Ann: Flinders enters non-binding Terms Sheet with BBIG, page-29
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