I’m already resigning myself to the fact that I’m going to part...

I’m already resigning myself to the fact that I’m going to part with my OPC shares. Even though I’m not a keen seller, the OPC board owns 42.4% of the business and have already indicated their support for the scheme. If senior management throws their weight behind it (which I assume they will), that’s another 5% - so almost 50% of the register are likely already in favour of the scheme.

In these circumstances, the only way I can see the scheme being defeated is if the Independent Expert determines the scheme isn’t in the best interests of shareholders and some dissenting institutional shareholders manage to mobilise a sufficient number of minority shareholders to vote against the scheme...but the numbers aren’t in our favour.

So. That being the case, I’ve started to turn my mind to what my preferred split would be between cash and scrip. I got in at IPO so at this stage I’m thinking 75% cash and 25% scrip. That way I have doubled my $ in 12 months and have some cash in my pocket, with a small free carry in UWL to enjoy further potential upside. Not a bad outcome at all. But it’s still early days and there’s plenty of water to pass under the bridge yet...