dispatch of notice of meeting and explanatory , page-2

I'll be voting no to every proposal. Don't care if it means liquidation. The alternative is:

1. A 20:1 consolidation, which takes all existing shares -around 511m down to about 25m.
2. They then issue shares to the syndicate, promoters, administrators neices etc for 0.1c. Then publically raise money selling 350-400m shares at 1c.
3. As well as owning the bulk of the compnay the syndicate will own a 3% gross royalty on production. That is a very big royalty - worth many multiples of the equivalent net royalty.

That means existing shareholders will own less than 5% of the company which itself won't be valued at much, maybe 1/4 (1c) of what it was when it ceased trading (4.4c).

In other words, the syndicate is offering the great deal of about 99% loss on your holding, with the threat that if you don't vote yes, you might lose the last 1%!! So a $5k holding at liquidation is now $50!

I'll vote no on all points, instead of handing it over to a bunch of theives.