I can sense a bit of desperation from RG by emailing this out...

I can sense a bit of desperation from RG by emailing this out again today at 3:40 pm






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Finish reading that letter, I would like to quote a few things from ASX guidance note 33

That Nick said


So, he's telling everyone that Kin's intention is to delisting a company which almost forever and not stating anything about listing it again nor put it on any exchange right, so why is he mentioning about part 2.7 of guidance note 33 where it specify the 12 months waiting to delist is for circumstances to put on another exchanger?


Why do I feel that there is a bit of coercing here? Why do I think this letter is telling me he's very close to 90% and as he's very close to it and I am being forced to sell to him right now? Why can't I wait till he gets to 90% first to make the decision? Especially, I had been to Computershare 5-6 times in the past 2 months, knowing confidently that hey, there are top 3 holders owned 8.01% and within the top 100 holders including those 3, excluding insto, they accounted for 9.61%. Insto nominee accounts accounted for 1.41%. Whether insto or no institutional nominee accounts, to my belief, Kin can't get to 90% unless he keeps on threatening people to sell to him. (my opnion)

Finally they admitted there are more than 150 holders as I been telling people since December, and even by now, from the 6th March 2024. the list still showed there are 1814 holders owned more than $500 shares. It's unfortunate that my post on Hotcopper can not spread to every holder's door or I would do so. It's so contradictory that I keep getting their emails for months without telling me how many holders still in the list and finally, they admitted from reading my post that they cannot satisfy paragraph (b) after being complained at Take Over Panel. I was and still believe that number of 1800 may fluctuate a bit, but no way it's getting down to the number of 150 unless people keep getting bullied and harassed from those type of emails that was sent in the past. Today's market price prove it! 24 k shares being traded the whole session. People are waiting word from Take Over Panel. If that's the majority reaction, I don't like and don't agree with the time and the wording in this letter as clearly me and every one heard the news that Take Over Panel is appoint Panel members right now. Who is Bennamon Group to go explain the law when the Panel is looking into this now?


Again, I think this statement does not cover everything that Guidance Note 33 stated from my reading and my opinion.

The Directors of Pact can apply to ASX to delist only if there are no unacceptable circumstances. Clearly, right now, the remain holders are upset with being forced to sell their securities too cheap and this to me is unacceptable circumstance and Directors can not put the application to delist it, may be it now or 12 months later because if it is right now, the price is at between 84 cents to 85 cents and to remainder holders it is not fair value. 12 months later, who knows the price as the letter doesn't even say so too. Since there is no fortune teller, to me, putting the word '12 months' in these two paragraphs is confusing share holders that not read guidance note,

The right for the Director to apply for delist is in guidance note 33 part 2.1 and the 12 months word are in part 2.7 of GN33. It totally 2 different issues as part 2.1 explained Director right and exclusion of Director right and part 2.7 explained particularly about special resolution right and exclusion to the the vote right. The letter is confusing as you don't mix orange with mandarin. They are 2 different issues.

By literal rule, if part 2.1 and part 2.7 by legislator who wrote it like that, it means they are two different parts. You don't mix words as if you are now a lawyer and write like that in the letter, it may 'constitute' to 'misleading' . That's my view



Part 2.7 where it said special resolution, it did mention about exclusion to the vote, and I believe Kin's Group are fallen into the exclusion of votes count if people see through Pact's holders circumstances.







They are my opinion! DYOR!