ESG announced that the Court has approved ESG convening a meeting to vote on Scheme, and I think that also means that the Court has approved the mailing of the Scheme docs.
In earlier posts I have mentioned that Icannot understand how we must wait for the info in the Scheme docs in order to understand why the Directors have recommended the Scheme.
Of course, we have been told that all will be revealed in the IER.
So it follows that the IER doc is pivotal to s/h in their assessment of whether to vote yes or no.
But what is also intriguing, is the Court approval process is in 2 appearances.
The first Court appearance is for the Court to approve the holding of the meeting.
The second Court appearnace is for the Court to review the results of the meeting, and to approve the go-ahead of the resolutions. Obviously that is important, because implementing the results of the meeting will mean the appropriation of ALL ESG shares by STO (if the Scheme gets approved).
As I understand it, interested parties can appear at each of these Court hearings, and make applications or give their views.
So - at the first Court hearing, a s/h could have appeared and given reason, as to why the Court should not give its approval for ESG to convene the meeting, and/or mail out the documentation.
The s/h arguments might well have been argumemnts as to the content of the docs, or the adequacy of the docs etc etc.
SO - my question is, how can a s/h in ESG determine whether he wants to appear before the Court in the first hearing, if he does not have any of the info contained in the IER ?
anyway - its coming to a mailbox near you.
cheers
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