Ann: FY22 half year results, page-21

Tactically, the best way to flush out a superior bid is for the board to give their full backing to the only current bid.
Whether our Knight in Shining Armour will charge in at the last minute, I have no idea. Santos would be my guess, but it’s about 11.58pm.
If no superior bid emerges and more than 75% of votes are in favour, those who aren’t in favour just have to accept all votes are equal, when you buy a share, you buy a vote and it makes no difference whether you are an individual or an institution. It’s not even a simple majority required, so if those not in favour can’t get more than 25% of the vote, there is no recourse, nor should there be.