I have begun to suspect that enough EPW shares have been picked...

I have begun to suspect that enough EPW shares have been picked up and held in other than SHELL related hands to be causing both parties concerns that the Scheme of Arrangement may not be so assured of success after all!

Considering the Shell offer of 2.465 for our company, is inclusive of the 0.045 cent dividend recently paid, as well as any special div, (up to 0.085 has been mooted), to be subtracted from the offer amount as well.....the stock has continued to hold up exceptionally well on market.

In the last hour I have taken a phone call from a lady from ERM Power asking if I had received the Scheme Booklet, and if we intended to vote FOR or AGAINST the Scheme.

I outlined my thoughts again, (as per the original post here 23Aug), including that I felt Shell's offer was somewhat opportunistic, and especially given apparent manipulation of the SP down over the period in which negotiations would have been occurring.

I shared with the caller that I thought holders I knew agreed in the very least that the offer as it stood should be UN-encumbered by the recent and any special dividend to be paid. **From her response I gathered this comment was NO surprise to her!!!!

In closing she asked once more how we were likely to vote, and I reiterated that in light of strong feelings re the above it was likely to be a NO, as it was a democratic process, whether it made any difference in the end or not. She accepted this most graciously, thanking me for taking the call.

I happen to think a situation has arisen where if you take a similar call, and when you cast your vote it just could be that YOU WILL make a difference.

Let's not die wondering

PS: In closing I would echo @dingledongle who encouraged us to contact Olga at the company and air concerns. It's not too late, clearly.

Phone: +61 7 3020 5545
Mobile: +61 409 004 298
Email: [email protected]
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