Ann: KBC: Bidder's Statement for YOW and Notice of Register Date, page-11

imo 2 people and staff own near 75% of notes
They are illiquid IMO
They have right to pay em out early , not allow conversion etc etc
What are the odds of a real market and pricing in any notes holders would receive?

They don't have cash IMO. They need to raise it. They will get control and pay with YOW cash at bank by loaning to themselves?
YOW share of no interest to anyone after offer and no one wants to be a minority and after creep even less so no market tension in pricing. YOW management will be hamstrung as very hard to stay independent from master who is on inside with appointments.

Looks to me like current small holders will be confused / frustrated with little understanding of documents and possible outcomes.

YOW existing management better come up with a bright idea , lots of information and it starts with quarterly to either get bid up, get friendly to buy ASIC sale shares or to show they can run a business etc .

Obviously they will have research major holders and have a idea of what acceptance at this level is likely. Wonder what YOW management have done and what relationship they have with other holders and what would meet expectations to allow them to stay independent?