Ann: Havilah Secures Funding of up to $100M from GFG Alliance, page-103

"Independent review I was talking about was not one of those independent reviews but a truly independent opinion"

An Independent Expert's Report is supposed to provide shareholders with unbiased advice on the pros and cons of a potential transaction, along with a valuation of the securities involved in the transaction:

https://www.moneysmart.gov.au/inves...rack-of-your-shares/independent-expert-report

To avoid bias, the Independent Expert must be independent of the parties with interests in the transaction. Is this your concern @peterbax?

Unless the transaction undertaken is pursuant to a scheme of arrangement (and in certain other circumstances) the expert is NOT required to opine whether the transaction contemplated is in the best interests of shareholders.

Per that ASIC link above, once published if you do not agree with the Independent Expert's finding you have different options depending on the kind of transaction involved. You should also contact the Independent Expert who wrote the report and let them know about your concerns.

You can also lodge a complaint with ASIC.

Cheers

These are only my random thoughts and it does not constitute investment advice. Before acting on any information you read and before making any financial or investment decisions, you should always consult your advisor(s) or other relevant professional experts.