Ann: Scheme of Arrangement Update-SIO.AX, page-3

So let the games begin!

Any idea of the indemnity value to Mr McMahon? I am assuming that the indemnity is related to agreements made by private entities from the Simonds family and has nothing to do with the company itself.

The FY16 Financial Report shows that he had a holding of just over 4M shares that were then disposed of upon his resigning back in Jan of this year. It is very hard to get a hold on what his involvement is since his resignation. How can you have a share price indemnity if you don't hold any shares?

The Report also states that he still owns two display homes that are leased by Simonds but apart from that I haven't found any other financial holding or investment he has with Simonds.

My understanding is that he forfeited his right to any performance bonuses upon his resignation.

So my question is what is the indemnity that was made, why was it made and what is its monetary value. Surely with the tens of millions involved it can't be that big a deal to them.

It seems to me that there is a much bigger game being played here and we are being kept well and truly in the dark - so much for open disclosure for the poor shareholder! It could all come down to nothing more petty than a family grievance agains a former CEO.