Ann: Notice of General Meeting/Proxy Form, page-5

On the punt , looks about right . It's very detailed .
But it looks like they are paying first in line. No list is provided of who will be paid and who are trade creditors who will be offered shares. Seriously , who would want the shares. There are going to be trade creditors who wont be getting cash .
It doesn't look like a user friendly offer, take it or leave it & if you don't it gets jammed into receivership & you don't even get shares.
It just looks to me that the long term backers want their dough & stuff the trade creditors , who probably haven't the votes to vote it down.
I would have thought LDA , wouldn't be able to vote on the issuing of shares to them.
Guys , i'm not trying to say i understand the ramifications, but it looks like a 'take it or leave it' oportunistic, offer to me . I don't think LDA can take more than 19.9 per cent & this will restrict the money CLZ can get off them to less than $500,000. I guess they will be ringing around to try to get people to vote for it .