EGM, page-11

WB628, the 79.5% majority holding was always a major concern going forward
SUMMARY OF OPINION

The concept of “fairness” is taken to be the value of the offer price, or the consideration,
being equal to or greater than the value of the securities in the above mentioned offer.
Furthermore, this comparison should be made assuming 100% ownership of the “target” and
irrespective of whether the consideration is scrip or cash. An offer is “reasonable” if it is fair.
An offer may also be reasonable, if despite not being ”fair”, where there are sufficient
grounds for security holders to accept the offer in the absence of any higher bid before the
close of the offer.

IMO, the offer on hand is CSD's only offer and what choice does CSD management have but to only accept it. Therefore it can be seen as reasonable despite not being fair as indicated above.

DYOR