Minority holders shafted big time with this, advising $70K ASX...

Minority holders shafted big time with this, advising $70K ASX listing fee saving is further insult.

Risco & Northern Gulf having 70% combined holding needing 75% supporting vote is very difficult and unlikely to defeat.

Advising Risco could end up with over 90% of all shares and may compulsory acquire remaining is opportunistic and an indiscreet takeover without any premium.

230M share buyback with Risco holding around 194M & Northern Gulf 104M for combined 299M out of total 428M leaving 130M available shares for purchase not making a lot of sense or is Risco hoping and allowing Northern Gullf to sell their shares?

With most holders crystallizing a loss for what’s being offered, why couldn’t they comprise a fully franked dividend component or is this something else they additionally want and have not valued?