Not quite so bleak, but some others with more singed extremities...

Not quite so bleak, but some others with more singed extremities than I may take exception to my remarks.

There are a number of protections in Corps Law and listing rules, to protect you in these cases.

The two big ones are the oppression of minorities obligations and the other is the related party restraints.

OK, assuming they are a big ugly international entity that intends to get 100% benefit by paying 51%,

- related party transactions (sale to subsidiaries or associated companies, transfer pricing) require shareholder approval.

- transfers of assets or sales of significant assets require shareholder approval.

OK, they have 51%, but there may be a number of (esp related party) transactions where they cannot vote their shares.

I am aware of several HC posters who have put the work in to defeat dodgy practices.

1. I am not saying any of this is dodgy.

2. Yes it requires work - like getting the top 20 lists and full lists, writing to shareholders etc. Sometimes getting the Coy to remove notices and resubmit etc etc etc. You will have seen plenty of examples where shareholders have held Companies to account.

3. Sometimes it is successful, sometimes not. BUT, you have the protection of Aussie Corps Law, which ain't half bad.

I happen to think it is a poorly priced deal. Too bad. Now, make it work.

f111