good idea there borg, we need a main applicant (but underneath...

good idea there borg, we need a main applicant (but underneath there, they allowed additional applicants together to form a party), so we need a main hero, plus a lawyer. In theory, we could do it all ourselves, but in practical situation, they (the panel) did knock back a few cases citing the value is too small (56 shareholders, who owned less than 1cent/share and there are like 60 shares in that stock), and on speculation, but they need evidences to compel them to go forward with the proceeding.

Which, by means, looking at Pact, hey man, we got a few millions of shares (17%) or so of Pact shares here man and a lot of holders, for sure to prove to the Panel, and with evidences, jesus christ, we are like bombing up here. We just need a guy to host all this and a lawyer.

Gofundme is a good idea. We need a lawyer to get an attraction from the Panel, and one or two main applicants to govern the case, first. Then gofundme will be funded to that main applicant/s, or you could get a lawyer to collect all those funds with trust too.

I mean, if any of us can get a hand to a lawyer, I am pretty sure we can go to the Panel. I am working down the details of submission, which may take me 2-3 days. It is not ready to submit to the Panel yet, but to a lawyer to review, and then to the Panel.

I got ideas already, but many decisions from the Panel, which I see valuable is that, each case is up to the Panel to decide, yes, it is majorly to govern Part 6 of Corporation Act 2001, but it does not mean just by the word, the Panel has its own jurisdiction to what it means by 'unacceptable circumstances'

On top of it, the fair value and reasonable value, stated in the Pact target statement and independent report, can sometimes contradict to the Panel views. For example, with Kins Group, they threatened to issue more shares if they can not meet 90% and with the independent report, they argued that by less shares and liquidity of trading volumes, share price will drop. So, who is right? Kins Group or independent report?

Plus, the Panel view stated that, RG take over bid, doesn't mean that in short term future, there are no buyer. They said, in term of market competition, they see that, in different case, it doesn't mean there is no market competition in term of price over controlling of the company.

In term of controlling, ASX did preclude circumstances of delisting where RG intends to cast more than 75% of his voting to delist but with intention to delist with his counts to be included. This is prohibited with ASX rules, and it means his votes will be excluded and subject to the majority of his remaining votes.

If the final order, coming out from the Panel to render his acquired shares under 'unacceptable circumstances' to ASIC, he won't be able to delist it or compulsory acquire anymore.

If otherwise, the Panel doesn't want to proceed, at least we can afford minimal loss of $2400 application cost+ $1000 cost for ASIC conference plus fixed legal fees from a lawyer. At least by then, you see and know the public panel decision not by me or RG neither. We can all choose to forfeit by then with no regret.

Keep in minds. usually with the Panel's decision, mind it be win or loss, the revisiting chance is allowed but many second or third or fourth chances usually get knock back by the Panel. So, if RG lose, he can only take it to the Court, but at the Court, he will have to sue the Take Over Panel's decision, not us. So no extra costs involves or so I think from our ends.

I am working it out, especially with the submission to save legal fees, and willing to put down 1 k for the cause. We just need a main character and a lawyer, and sweet we go, Get back to you in few days times, at worst before 3rd January with my submission.