scheme voting, page-79

just a couple of points wrt to legal action/class action:

- there has to be a LOSS ie actual, demonstrable loss
- you have to be able to point to a pretty clear example of wrong doing. you cannot use the argument of hindsight for example.
- of its misleading conduct/ deception or breaches of fiduciary duties - it needs to be clear cut
- there is always the "business judgement" rule/concept which they can utilise.

its really interesting- all these issues have all been postulated and done to death over the last few weeks at ESG.

the directors of ESG would not talk to s/h, would not make any comment until the IER came out, and basically bunkered down.

I am sure that part of the reason relates to their perception of libility, and the fact that they have to operate via an established process during a takeover.

i am not giving an opinion, but just commenting on the similarity to the ESG situation mwhich s/be fresh in everyone's mind.

cheers