Very interesting that Verra has increased its offer by 4c ten days before the scheme meeting and without any superior offer emerging! Presumably that is because it is worried about achieving one of the Scheme's requirements that 75% of shares voted be in favour of the Scheme. Looking at the most recent annual report, it appears Sidney Ho (10.8%) and Cheng Man Oy (6.4%) will vote in favour along with Coliseum. But if Elizabeth & Chris Cooper (7.5%), Elizabeth Cooper (7.2%) and DUMAC (6.7%) don't, that's 21.4% of the 25% required to stop the takeover. And that's assuming 100% of shares are actually voted, which is unlikely.
So I'm changing my vote to No hoping that it helps get the offer increased further! What do others reckon?
DYOR, not personal advice, etc.
Very interesting that Verra has increased its offer by 4c ten...
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