Under ASIC/ASX company rules, i believe this is likely a flawed...

Under ASIC/ASX company rules, i believe this is likely a flawed offer , because it does not treat all shareholders equally. For this reason the proposal should be rejected & voted down when being considered at the forthcoming meeting. Shareholders should contact ASIC /ASX & report this violation . Quite simple the propossal in effect transfers at least a quarter of the company to outsiders at 12 cents , when existing shareholders paid 35 cents.It is also demonstrably unfair because it prevents ALL existing shareholders from fully participating EQUALLY (ie exiting shareholders are likely to be resticted to one-third of $5000 worth , where-as no restrictions will be placed on the BBY shares.The total lack of transparency in the transfer of perhaps a quarter of the company is another worrying aspect .Existing shareholders wont even know who got the BBY shares- except the little detail they can gleen from future top 20 notices.