Ann: Webinar - Q&A session with James Marsh, Managing Director, page-74

I'll tell you how your "war" plays out:

1. MEP shareholders vote no
2. ADN says "we're not giving you more", knowing full well MEP can't stump up the capex.
3. Smart money leaves MEP, knowing writing is on the wall. Maybe even a board member or two finds a "reason" to sell, perhaps resigning.
4. MEP shareprice no longer connected to ADN (as there is no merger), and falls accordingly
5. Shorters know MEP needs to raise capital, and start shorting, hard
6. MEP share price plunges to all time low
7. MEP SP now so low that a CR is unfeasible
8. MEP searches for third party funding
9. MEP board discovers the 3rd party offer less palatable than the CR
10. MEP shareholders revolt
11. MEP sacrifices a board member
12. MEP cant stump up the $, and loses most its share of the project
13. greedy MEP holders capital is destroyed.