Are Shareholders Being Screwed?, page-4

I have just had another look at the half year accounts because there was a large amount of commentary on the scheme and arrangements under the heading "going concern". The one para which seemed to be relevant above all others was that which stated that the directors did not believe there was any impediment to the scheme going ahead and that the completion of the deal was "highly probable". Now that document was announced on 28/2/2020 and the current market conditions and probability of getting worse were quite evident at that time. If they had any misgivings about making forward looking statements of that nature you would think that they would have pulled them and changed them to indicate more uncertainty. Maybe I am wearing rose tinted glasses but I have tried checking as a pessimist and can only come up with the view that it would be canned only if both parties agree otherwise the penalties to both sides would be heavy from any point of view. However the 90c+ arbitrage value seems to point to the fact that many holders think it will not happen. I am holding.