Ann: Results of Scheme Meeting, page-38

You're not stupid mate. The SS makes it clear enough that this stock is a $1 per share stock on its worst day.

Your only plausible risk, IMO, is if Tim decides to let this stagnate whilst MIN happily see the SP drop only to then come in with their T/O offer after having accumulated more cheap shares to get them well over 20% and Tim decides to happily see this get given away for nothing.

I think/hope the above is unlikely but it's the only real risk I see at present.