Some good analysis LowryMike.For what it is worth, l also fall...

Some good analysis LowryMike.

For what it is worth, l also fall into the over 10,000 under Top 20 bracket. I suspect much closer to the latter. Have never liked the smell of this deal and believe retail and institutional holders have been sold out by a demonstrably dispirited BOD and VRC who favour delisting of the business.

In the absence of this deal, l suspect the SP would be somewhat higher than $2.20 but the Balance Sheet needs some repair. I would fully expect some sort of capital raising.

All that said, these 2 schemes get a resolute NO/NO from me.