QPN 27.3% 0.8¢ quest petroleum nl

gone to the dark side!!, page-7

  1. 5,439 Posts.
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    Not an expert Points but imo you don't really need one here. The answer is no, approval will be needed. Reason being that people who bought/hold fp's did so in the reasonable belief that the oppies had a finite life and would expire on 'X' date. Therefore they could claim they were disadvantaged by buying on mkt in good faith when there was no existing guidance by the directors that the goalposts (oppies expiry date) might be moved. So they'll definitely need to be given a vote. On the other hand oppie holders have always been fully informed on the date of expiry but nobody, incl QPN directors, had any control over the drilling timeline. Also, there won't be time now for an egm before oppies expiry so I think it's a make or break deal at this stage.
 
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Currently unlisted public company.

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