I was one of 2 shareholders that attended the AGM on 25/5/16...

I was one of 2 shareholders that attended the AGM on 25/5/16

Summary as follows,

• Directors don't believe they will need to raise as costs associated with RTO as costs will be covered as part of the RTO raising.
• Alex running a commercial business, being gridcomm e.g. running the business and setting up infrastructure and racing around the world chasing new deals has impacted progress to a degree
• New ASX rules around minimum raising for RTO is one change that needed to be re-worked
• Consol rate will be finalised after ASX provides feedback on 20c waiver.
• 6% Singapore shareholder will not impede conclusion of the deal
• There will be an announcement on Shareholder meetings/approvals etc. but only after the ASX and ASIC review new documentation that were to be lodged week ending 27th May 2016.

I was comfortable, all things being equal, the deal will be be completed. My view at the time of the AGM was 5-8 weeks based on feedback from Directors, so between next week through to mid July I would expect an announcement.  

Having said that, the key element for me is that gridcomm are engaged in completing the deal. In my view after eyeballing the directors its not a matter of if but when and the when will depend on the bureaucracy of ASX and ASIC.

IMO

Cheers,