Ann: Registration of Scheme Booklet, page-58

Fair enough Daisy. I guess I'm asking what law though? And I'm sort of hearing "its the vibe". Like in the Castle. No disrespect intended.

From watching reading reports about Haynes comments in the media recently I get the feeling he isn't entirely convinced we've turned a corner after the Royal Commission.

I don't reckon WES or UBS will break the law (I think they'd want at least an arguable point) but I do reckon they'll give themselves full permission to bend it within an inch of its life because unless challenged that doesn't even come out.

I think they've (the lawyers that put the SID together) are testing the unacceptable circumstances with the lock-out clauses to an extreme for instance but if challenged even successfully in the takeovers panel I think they'd just fall back and change some details without it costing them much.

I think it would take a shareholder or holders with a lot of shares to be willing to take them (KDR board and WES) on. And unless there is an alternative board to put in place (needs a majority vote) that doesn't seem to be strategy that would be undertaken by an interested player.

I think this control transaction is going to set the scene for takeovers and schemes of arrangement in other lithium plays for quite a while if it is successful. It will set a sort of precedent in my opinion.