Ann: Notice of Annual General Meeting/Proxy Form, page-8

yes, what a trash company this is.

what is not provided as a resolution to be voted on by the s/h, is the fact that Board intends to do a Small Share Sale expropriation.

5.9 Minimum parcel sale
Following completion of the Consolidation, the Company proposes undertaking a minimum parcel sale in accordance with clause 3 of the Company’s Constitution. This process will apply only to holdings of less than AUD$500 at the time of the consolidation. This will have the effect of further reducing the Company costs, in particular administration costs, going forward. Further information on that process will be contained in correspondence to Shareholders holding a minimum shareholding (as defined in the Constitution).


So look at this:


so thats as at 17 Nov 2017.
so at 17 Nov 2017, about 49% of shareholders had Unmarketable Parcels.
An Unmarketable Parcel is a holding worth less (CMV) than $500 !!
At 17 Nov 2017 the SP was lowest price available to be quoted on ASX - ie $0.001 !

$500 at $0.001 is 500,000 shares !!

So every holder below 500,000 will have their shares compulsorily repurchased, unless they are quick enough to Opt-Out of the Minimum Share Sale process. ie - you have to pro-actively Opt Out in order to keep your shares.
So just what will the repurchase price be???

If you had 500,000 shares now, Consolidation would reduce that to just 7,142 shares !
LWP assert that $0.001 x 70 should equal $0.07
So your 7,142 new shares should be worth $500 - in theory.

But when the shares are relisted, just how many totally angry shareholders will dump their shares as soon as they can???
So down goes the SP below that 7c new theshhold.
So that 7c will be illusory imho !!

Ergo, so way more shareholders than that 49% of shareholders will be subject to that minimum share sale farce.

THIS WHOLE PROCESS IS A SCHEME TO RECAPITALISE LWP, WHICH WILL BE AT THE EXPENSE OF EXISTING SHAREHOLDERS.



It will leave well over 50% of shareholders totally disenfranchised imho.