It was announced earlier that Federation Mining will vote in favour of the offer. I believe this is the Aus Super shareholding that Fed Mining now hold through a commercial agreement with Aus Super. I think the agreement is something along the lines of Aus Supers mining assets were transferred into Fed Mining and Aus Super became a major shareholder of Fed Mining in the exchange.
It has been pointed out by many shareholders how and why this offer is undervalued. When it comes to the Independent Experts Report it is a case of he who pays the piper calls the tune.
There is still a good chance that if enough shareholders vote against this it can be blocked. For the resolution to pass it requires: not only 75% of all shares voted in favour but also 50% of all shareholders who vote to be in favour.
So even a tiny shareholding carries equal weight to a major holding with the 50% shareholder requirement. This levels the playing field somewhat making it more difficult for a group of large shareholders to pursue their own agenda at the expense of small shareholders. IMHO.
NUS Price at posting:
34.5¢ Sentiment: Buy Disclosure: Held
