Summary, page-15

Yes, I think this is fair comment, however my main point against this deal is the selling of our asset to fund cash flow (basically). I am hopeful a No vote will force Todd to offer a buy out and shareholders can then get some return. If we are stuck without Todd so will Todd be without fms and I don't think it has to be a win/lose situation. We have to be realistic in what we might get, however at the moment it looks like we are getting sfa.
Certainly if Todd decide to play hard ball in the event of a No vote and make no revised offer then the Company should shut up shop and wait - they obviously want it. (Unfortunately Directors might not see it this way)