Hi guys,All those who lodged complaints to ASIC may have heard...

Hi guys,


All those who lodged complaints to ASIC may have heard from their representatives by now...

RE: the TRU component we have had counter arguments now through the ESGSAG from both ESG/J.P Morgan and SANTOS.

you need to keep to the underlying argument to win the case:

Argument from SANTOS:

"The deal was equivalent at the time the scheme was announced.."

i.e ESG share price was in the 90 cent mark consistent with the TRU energy offer.

Our argument: NO, The ESG price was linked to the SANTOS share price (speculative risk) while TRU was offered certainty.

Argument from J.P Morgan and ESG:

"Shareholders have the option to VOTE the TRU energy part down and therefore make the deal equivalent."

Our argument: NO, we should not have been asked to vote on a non-equivalent scheme in the first instance.

Stick to the point and it is open/shut :)


Cheers,