Good point Clark888. I haven't yet (but will) read the detail. But if I understand your comments, SIMEC are getting security over a couple of HAV's primary assets.
Why does a shareholder get to take out security on the underlying assets of the Company? I didn't get any when I bought my shares. I assume that you didn't either. I assume that Giles, even with 20%, does have any securities over the underlying assets of HAV.
Is this actually a loan being dressed up as a share issue? If its actually a share issue, then why does SIMEC as a shareholder need/deserve security over the underlying assets?
Ann: Notice of Extraordinary General Meeting/Proxy Form, page-28
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