Latest timeline released by ZEN had the first court date set...

Latest timeline released by ZEN had the first court date set down for the week commencing 22.June so I guess we will know in the next week or so where Westoz stands (that is of course unless they leave it to the last minute to start negotiations with PEP and we get a further delay).

Assume we are still well inside the 45 days that shares need to be held to access the franking credits, so Westoz (despite their public disquiet) can still book a reasonable short term gain on the recent purchases if they are forced to vote yes. Can’t see WIC and OZG wanting to be locked into an illiquid Investment in the cabal. The weekly publication of asset backing also counts against the Westoz funds going through with a no vote because a fall in share price on OZG’s largest holding will hurt fund performance (and management fees) in the short term. Unless Westoz has no candidates for their next investment, maybe it’s a game of staring at each other to see who blinks first, with tensions rising as the first court date approaches. PEP can of course up the pressure with a further delay in the timing if it suits their interests.

Euroz connection still has me somewhat suspicious as to whose side Westoz is on, but if it’s on ZEN Managements side why publicly criticise the failure to increase the offer price?