"It is proposed that interests associated with Andrew Hansen and the Hansen Property Trust (subject to Andrew Hansen obtaining Hansen Property Trust’s agreement as contemplated under the co-operation agreement) will receive some or all of their consideration in the form of shares in the ultimate holding company of the acquiring entity under the scheme. As a result, those interests will likely vote in a separate class at the scheme meeting."
If Andrew Hansen's interests do vote in a separate class it makes it more reasonable, presumably both classes would have to pass it so a majority in the ordinary class could defeat it.
The directors other than Andrew Hansen are not prevented from trying to get a better offer. Ought to make some attempt.
HSN Price at posting:
$6.16 Sentiment: Hold Disclosure: Held
