IMO, there are many things happening behind closed doors will not be announced until they are ready. Let's be a little more patient to see what JS' imminent means. In the meantime, you might like to have a look at the latest T20 list produced by IRESS.
As you may have noticed, holdings of these T20 holders are not updated yet but the total number of shares issued is. This is why their holding percentage has dropped due to this disgraceful CR, this means our holding percentage has also dropped at the same percentage for the same reason. Difference is some lucky holders on this T20 list (along with those so-called sophisticated investors) are well looked after by the Board as they have already got some cheap shares from this CR although their holding is not yet updated on this list but we are overlooked again. Obviously IRESS has only updated the total shares issued after the CR but not the individual holdings.
If we allow those options and shares (Resolutions 2-8) to pass, approximately another 118m shares and options will be added to further dilute our holding. Imagine if we have a $1 per share take over deal (nice but is example only), my rough calculation is:
Without the crap CR = $1 per share (total shares issued pre-CR is 701,160,709)
After the CR = $0.87 per share (total shares issued 806,422,064)
If Resolutions 2-8 are passed = $0.76 (total shares issued 924,007,931)
Vote "NO" to Resolutions 2-8 to maximize your profit!
