At this stage, a Scheme of Arrangement looks unlikely to succeed. As
@Spec has said, current shareholdings are:
RMS 17.94%
Tembo 9.99%
1832 5.16%
'Mystery' 4.75%
Delphi 2.3%
If we assume the 'Mystery' buyer is sympathetic to Tembo/SPR (SL's trip to London), we possibly have:
RMS 17.94%
'Defence' 22.2%
Given the 'Defence' is close to 25%, RMS would be unlikely to get the 75% of votes required for a Scheme of Arrangement.
It seems unlikely to me that RMS would launch a T/O without some form of understanding with the 'Defence'. I have some confidence that the interests of the 'Defence' align with the interests of Retail SHs.
(20min delay)