to be divided and conquered

Below is a quote from the website www.savemytrees.com.au. Basically, if more than one proposal to take over the projects is presented for a vote by the receivers, the odds are no proposal will achieve the level of support required and projects may well be wound up, I'm sure to the banks' delight.

I have voted to have just one preferred proposal presented for a vote and so improve the chances of a new RE being given control, be it Gunns, Black Tree, the IWC or the expensive Pulpwood.

Otherwise McGrath Nicol may just take the rules and beat investors over the head with them. Despite multiple offers being on the table the receivers may be able to ensure none of them get the votes. IMHO, we need just one presented for a vote. Just wish they'd release the details of Gunns and Black Tree...



"Under the current voting procedure, for any of these three proposals to succeed it must achieve a "Yes" vote in each project year of :-

50% of total woodlots (i.e. total amount invested in each year)

and,

75% of all those attending a growers meeting (either in person or by proxy).

We believe McN propose to present all three proposals to growers to vote on. With 10 pulpwood projects (1999-2008) that means there will be 30 possible voting outcomes.

This means that the chances of one commercial offer achieving the required voting hurdles over all project years, becomes much more difficult. Despite the fact that there are three competing commercial offers on the table, this means that a winding up of all projects becomes a possibility.

Please click on the below link and fill in your details to vote!

http://www.savemytrees.com.au/update_and_grower_poll.php

Or simply visit the website www.savemytrees.com.au and click on to the red icon on the left "Growers Poll".

If you are a registered grower please poll as you see fit.

If you are a grower not yet registered, please register then poll.

If you are an adviser please pass on to all other advisers and their clients so they can vote."