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Well I will be voting AGAINST, and I haven’t even read the...

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entropylord

13,963 Posts.

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28/04/22

15:51

Post #: 61075929
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Originally posted by Gareth: ↑

That's mainly true, except for past cases where the vote is close, they often do ring arounds to make sure the larger holders are on board, if we vote NO ahead of time, they will see that perhaps get anxious and raise it a fraction - but I agree getting even an extra 1c will be hard.
Normally hardly any of the smaller voters turn up - HC readers are a select bunch not representative of those that vote.

Bear in mind the need for 50% of share holders WHO VOTE need to be in favour AND 75% of the eligible votes need to pass for it to go through.
So that would be 75% of the vote not including IGO's holding (and I hope Wyloo/Twiggy).

I don't have any animosity towards IGO, they are trying to get the deposit at the best price, who wouldn't.

No bidders out there (MCR looked according to AFR a while ago, but rebuffed). But a disciplined buyer may have wanted to wait till last moment before lodging their own bid - you have to remember that the Scheme Booklet was only just lodged today, so they could still bid any time before the vote (I've seen it's not uncommon for bids to come in AFTER the scheme booklet is published). Why get into a bidding war before you even know what the IE will say. It would tie up money and Admin resources and distract the other competing company from their own job as well as put them in the public eye.

It's quite a sight if you have multiple holdings and they send you thick wads of paper for the Booklet, followed by more for counter bids and revised schemes! Luckily I'm green now! (Green as in environmentally woke, not flush with Green backs!)

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Well I will be voting AGAINST, and I haven’t even read the document yet.

Hopefully the current board will then retire in an orderly manner, and probably time for Dan to move on too, although it’s hard to know if he personally is in favour of the proposed takeover.

I don’t believe the offer will proceed, it’s just too cheap. I expect they”ll have an uphill battle on both the 50% and on the 75%.

EL

WSA Price at posting: $3.85 Sentiment: Hold Disclosure: Held
2 Upvote

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Well I will be voting AGAINST, and I haven’t even read the...

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