Something doesn’t fully add up here. I wonder if it’s got less...

Something doesn’t fully add up here. I wonder if it’s got less to do with an actual takeover in the short term, and more to do with controlling their supply. With zircon prices going ballistic there may be other options the company is considering (including future development and sales to other parties) that is in the interests of Image, but not in the interests of the Murray Zircon Chinese owner.
Whatever the case, IMO this action is not in the interests of maximising value for the rest of Image shareholders.

Does anyone know what percentage of the votes they would need to pass the board changes? They must have some confidence in getting it passed or they wouldn’t raise it - but who else in their right mind would vote for it?