re: 30 per cent drop in one day

Make that 35% in one day - $1.75 to $1.14.
All these half-wits carrying on about how great a deal this will be! Come off it! Try using the stuff between your ears!
This deal will be howled down at the EAGM in Feb unless we see a huge rally in the sp. Who in their right mind would vote for this BS when its caused a dent of 35% in the value of your shareholding - in one day I might add!
Unless they happen to be brain dead then presumably the board and management are taking note of the markets displeasure. If the sp cracks a buck whats the bet they call the whole thing off?