Sharks, I have read yours and others subsequent posts since making this post and all I can say is that the EGM documentation regarding the 30% premium and other conditions is not clear and is actually ambiguous despite Marvin's opinion that it is simple. We really need to be able to read the actual contract to make any sense out of this.
I was not happy with the bit that says that the company must place a large potion of borrowed funds into a blocked account sort of like showing you don't need it before you can borrow it. Not good sense to borrow at 6.5% and place on deposit for nil interest in a blocked account IMO.
Ann: Notice of Extraordinary General Meeting/Proxy Form-CM8.AX, page-64
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