Borg,De-listing is definately not a done deal.As Richard said,...

Borg,
De-listing is definately not a done deal.
As Richard said, this letter has come from the KIN Lawyers, not the company board.

The done deal is their assertion that RG will be voting for delisting. This only means the company can then apply to the ASX for delisting.
It still means they have to meet all the prerequisites of de-listing. The main one here being fewer than 150 shareholders.
If there is 151 shareholders, that additional shareholder could lobby the ASX to say they are at a severe disadvantage if the company is delisted.
Note this is very unliekly given there will still be >900 shareholders and all of us do not want it delisted.
Really just another tactic to reduce the shareholder totals.

I do not expect this will be able to happen without significant support from all shareholders, noting that 99% of shareholders voted against RG at the last AGM.
If this was to occur, then the board could not in their right mind approach the ASX and say their vote passed and they have the support of the shareholders to delist.

Just another good opportunity to buy more shares.

I especially like the threat that, those who bought into the company in the last 12 monmths, new it was the companies intention to delist, so bad luck. haha. This would never fly given 99% of shareholders are against delisting.

Would be nice for everyone to send an email to the investor relations email "info @ pact group . com" (no spaces)
and ask how this board proposal is in the best interests of all the shareholders and not just one of the major shareholders.
There response would be interesting at best, but would be another point to fall back on that the shareholders they are referring to do not neccesarily understand how it would benefit them.
As Richard said, if the listing is taking up significant amount of the boards time, then they aren't doign a very good job.