I'd have to double check the fine print, but I think I read that...

I'd have to double check the fine print, but I think I read that for this to pass it needs 75% of eligible shares to vote Yes and a majority of eligible shareholders to vote Yes. Besix has said that if they get the 75% Yes but don't get the majority of shareholders, then they'll go to court and ask the court to overturn that latter vote (there's democracy for you).

Besix are not eligible to vote.

92c for 50% is rubbish, given that it is less than NTA of the company at 97c. So the board could wind the company up, sell all the assets and give them to the shareholders and we'd end up with more money.... but then they'd be out of a job so we can't have that, can we?

I'm still undecided and will await the full offer document.

Once Besix take the 50% of shares people hold it will be interesting to see what happens. Obviously they'll stack the board with their folks. I don't know a lot about Besix, but maybe this would be a good thing. Get rid of the dead wood out of the senior management and board and start turning a profit.

We can only wait and see. I'd be interested to hear other opinions on all this, too.