Have you read the OptionCo documents released to date BU? Here are some thoughts from my reading;
1. Stability of the company is key. Boards can be replaced, but only an idiot would try to replace the board and senior management. At the very least RC would need to stay for a transition period, while the new board determined if he was still the right person to stay as CEO.
2. OptionCo aren't made up of a bunch of yobbo's. Have you seen the list of who they are from the ASX announcement last Monday? Take that list and then compare them to the Top 20 lists in the Annual Reports from 2009 onwards. Names keep popping up; Walewski, Rol, Cochrane, Chembank, Howes, Garmi. Considering when these folks invested, they each have put more than $500k into this, sometimes more than a few million. Imagine they have a lot more reasons than you do to ensure this company doesn't fall apart.
You talk as though we have a myriad choices if/when the scheme is voted down.
We don't.
As much as some would like, the board will most likely not voluntarily go, they will need to be shoved, and only OptionCo currently has the means to do that.
And if they aren't shoved, Macquarie will just wait and make another offer before the next AGM. Why wouldn't they, the current board are willing sellers...
