Register ASX Complaint - Waiver, page-8

Thanks for that better explanation Harry3539, I sort of got it up to the Conclusion part - then you lost me big time, too cryptic for me sorry and I am shocking at crosswords let alone cryptic and I am certainly one of those mushrooms, although I sometimes feel like I have been in the cellar along time and no one has ever come to see me but I am at the end of the sewerage pipe.

But a few questions - in your first point you talk about the Company constitution requiring a vote if you acquire or dispose of a core asset, doesn't that mean if this Origin thing is happening, then shareholders will have to vote on that deal too? From what I read in the papers an online - talk is somewhere between $150-$300m - and if we are in some JV with DBP then one assumes 50/50 which means we need $75m-$150m, which at the bottom is almost 2x our market capitalisation so I would expect that to be a acquisition of a core asset so therefore under our constitution we shareholders need to vote don't we? This deal is way bigger than the ERM deal so surely we would have to vote on that too...

Let alone the second question - we have no money so where is that $75m to $150m going to come from again we cant issue that many shares without shareholder approval... so again don't we need shareholder approval. Lastly, how do we as shareholders know that the price that might be paid for these assets is fair and reasonable, Christ if our board and management get it just 10% wrong, we lose multi-millions more.... how do we know that its fair and reasonable, this sort of deal is way bigger than we are.....not sure where you get the $8 from, I really really really hope so, but assume somehow for us to bid for those assets we have to raise a hell a lot more shares which means more dilution, and I cant see how we would go anywhere close - different story if we had that money sitting in our little bank account waiting for an opportunity like this.

Oh sorry one further point - where do you get the 5% interest on the MIN deal from, Empire said it was BBSY+5% and from the financial review I think that is the Bank Bill 3 year rate which means 1.755% (please correct me if I have looked at the wrong thing) which means total 6.755% and variable over the 3 year period so it could go up or could go down... depending on what happens with interest rates generally.... so MIN are getting 5% on top so I think they are getting a decent return for their loan without the options as well, which are freebies as said by others....JIMHPO