Ann: Shareholders to vote on Humm Consumer Finance transaction, page-18

I have had a quick skim through the booklet - it is as I initially believed.

The first vote is the important one - the sale will go through if the 50% threshold is reached. Then there is a vote to allow a capital return, which facilitates the distribution of cash etc.

the scheme of arrangement makes it easy to distribute the shares, however if it isn’t passed, but the sale is, then they will explore others ways to return capital/distribute shares. It just means a delay while they work out another way to do it.

Given that AA is the only director opposing it and he is not offering anything others than “stick with me as you have for years and I will do better in the future”, I am voting yes to it all. Flexi commercial should get a decent rerating once the dust settles and a few clean and profitable results happen and I am happy to see what happens with Latitude - can’t be worse than the last 5 years….