LCE has issued its letter. It is beyond my technical ability to link the announcement to this post but it is at the LCE thread.
In summary, interesting read. Key points:
- All LCE associates have voted against.
- An "inherent reinvestment endorsement" of the proceeds.
- Strong criticism of the independent expert's conclusions (noting that it is almost truly independent of the person giving the instructions and paying for the expert......).
- No consideration of $31.7m of franking credits.
- LCE is considering what action (presumably legal) they may take so that all minority shareholders can consider full information on the proposed future investment of funds.
Will watch with interest.
Best
BSP
LCE has issued its letter. It is beyond my technical ability to...
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