Is There a Problem At Karara ?, page-4

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Laine

316 Posts.

114

06/05/19

15:57

Post #: 38431409
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Originally posted by samson: ↑

The value of Karara was written down to zero in the financial books back in 2014/2015. That decision had no correlation with the current Scheme of Arrangement. Even the dropkick GBG board could not possibly have thought that one up - from 5 years ago.

As far as whether you will be forced to sell your shares:
Unfortunately you (and I - and all other shareholders) will have our shares forcibly taken from us if the following conditions are met:
At least 75% of actual shares are voted in favour of the Scheme (for each class of share category)
At least 50% of the number of actual shareholders vote in favour of the Scheme.

I'm hoping that the vote will be defeated - each shareholder will make up their own decision as per their circumstances, but I'm on record saying that this little shareholder has NO intention of allowing Ansteel take any of my shares unless they increase the Offer to a minimum of 10c p/share.

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Stupidly I bought in at nearly double what they are offering me, no way am I agreeing, and I pray that other SH wont get sucked into excepting something instead of nothing. Received a "Transaction Update" today in the mail, love the part "Since the transaction was announced, Gindalbie has received a lot of feedback from shareholders who look forward tp receiving significant cash premiums offered by the transaction" What a load of tosh.
GBG Price at posting: 2.6¢ Sentiment: Hold Disclosure: Held
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Is There a Problem At Karara ?, page-4

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