Today’s Genex announcement includes “…subjectto an independent expert concluding (and continuing to conclude) that theProposed Scheme is in the best interests of Genex Shareholders”.
I’d like to know how the INDEPENDENCE ofthe to-be appointed expert will be VERIFIED, and how that person will let MEknow how this Proposed Scheme will be in MY interests as a Genex Shareholder(or collectively ALL shareholders), to which both ASIC and the Courts mustagree.
If there is a significant probability (andlow risk) that in 2025 either the share price will appreciate higher than thecost of money and/or dividends are on the horizon, then I can’t see how a bona fideexpert could possibly think that acquiescing will be in my (or other shareholders)best interests.
The below from Allens is also a good readin relation to Schemes of Arrangement and the obligations of all parties.
https://content.allens.com.au/the-allens-handbook-on-takeovers-in-australia/schemes-of-arrangement/
I reckon there’s A LOT of (pumped) water toflow under the bridge yet…
Oppose the Scheme of Arrangement
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