Ann: Results of Scheme Meeting, page-20

The scheme offer route is dead for TLEA. Any scheme would be voted down by MIN.

TLEA could make a takeover offer, but they're not going to get to 90% with MIN's shareholding in the way. I don't see TLEA coming back again, they're finished imo with MIN holding just under 20%.

The only road I see is the SIA being terminated after 6pm 21 April and before 8am 24 April. ESS can then sit down with MIN and work out what they want. Hopefully they agree to a new scheme at a reasonable price. All imo.