i just got a phone call from esg, page-18

Interesting question Rickyjim

If shrs have already voted YES - no problem with an increased offer (subject to the scheme rules of course)

If shrs have already voted NO - we couldn't presume that the increased offer is acceptable to those holders either.

Essentially, the scheme would have to be withdrawn as it would be full of inequities.

So, what can STO (cause ESG caretakers are irrelevant) do?

Perhaps they could let the 'reins' go and give the price some clear air (assuming) they have any ability to do this. Hoping that the increased market price will get it over the line on the day.

Or (in the absence of a 3rd party entering) take their chances on the day, if YES wins - no problem. If NO gets up, re-group and go hostile.

If YES wins there will still be fall-out but it will only be on the inequity of the TRU arrangement (if that does in fact get up) but the Caretakers I think will have issues going well into the future.

To me (showing my age) it looks like 'Magilla Gorilla' painting himself into a corner at the moment - I hope he keeps a spare option in the boot!

This post probably is very convoluted and makes no sense so, I will keep it simple;

Increased pressure...their problem...they can solve it. Not my concern...I will vote NO and keep as much pressure on as I can.

VERY interesting times