have received reply RE; OCP vote. it appears they are useless in the scheme vote because they are not counted. this means a small holder of say 10% would have a good chance of blocking the scheme vote. so far dont know what cohen is up to, but unless he has alternative offer hope he votes FOR
QUOTE;
"OCP is able to vote but the court has determined that because it is also the owner of the convertible notes, OCP's shares will be considered separately from those of other shareholders ? hence the second meeting which, in effect, is simply a meeting for OCP to vote its shares.
OCP's shares will not be considered in the voting of the first meeting, but for the scheme to be approved, both meetings must pass their respective motions.
OCP's convertibles will not vote. They are being treated as debt and will be repaid in full if the scheme is approved.
This will all be set out fully in the explanatory document that will be available next week."
ISF Price at posting:
15.5¢ Sentiment: None Disclosure: Held
