Ann: SCHEME BOOKLET & INDEPENDENT EXPERT'S REPORT, page-5

it is interesting that there have been no comments critical of the content, process or methodology of the IER so far.
The IER is THE most important factor in S/h decision making process (other than the actual price offered).
I am sure that the reason is that retail s/h simply do not have the expertise to critically examine the Report and its process and assumptions.
It would cost a small fortune for s/h to engage another expert to review the IER.
Its a very lengthy document. Good bedtime reading?

What I did notice is that in the Summary, is that CTP says it has approached 80 parties to discuss participation with CTP. No other proposals have been put forward. IMHO, that is telling.

They do confirm the voting requirements (75% shares FOR, and 50%+1 of Shareholders FOR).

After only a quick look I think that the IER fails to provide proper detail as to exactly WHAT will happen to CTP and its business and mgt, in the event that the Scheme is voted down?
So they provide all these reasons as to why s/h should vote Yes, but what will happen if s/h vote No?

For s/h to properly consider the Scheme and the prospect of selling their shares, they need to fully understand just what will happen to CTP if vote No. ie what is the alternative to the Scheme?
They do provide some reasons as to the reasons why s/h might vote No.

But the IER gives no detail or plan as to what could or might or will happen, if s/h vote down Scheme?
Will CTP run out of funds?
Will CTP need to sell assets?
will CTP must do a CR.

Point is, if directors are doing their job, they MUST have a Plan B, in case Scheme is voted down?
So what is that plan?
They need to show a cash flow type schedule, of the funds needed to develop, produce and sell gas, and where those funds may come from in event of a No vote.
S/h might not like the answer, but at least you have the full story.