for the interested ones-scheme of arrangements, page-5

Spindletop,

Go to the source and find out that it is only a draft resolution and that it hasn't been approved as yet. In a few words it has reached a snag.

ASIC told me that themselves after that person that was talking to me got advise from a senior. Hence why they advised me to contact the company and ask them as to how they intend to have this meeting run.

What you are saying, has been planned for a few years now, but it never advanced to anything. For, the Laws, states that if you have an interest in the matter, you should attend the meeting. Under that proposal they are even trying to insert the clause that if there is 75% of the total shares voted in favour of the resolution the head count doesn't matter any more. For, they are claiming that the Scheme is heavily in favour of the smaller investor while it is discriminating against the larger investors.

After all the Scheme of Arrangements are based the same as for a meeting of creditors. Creditors must attend to the meeting in order to have a vote in the resolution.

Has anyone approached the company as yet ??