Hi Yanlin,If the only connection to Australia is through...

Hi Yanlin,

If the only connection to Australia is through ownership, then why the following:
1)
on 2/7/02, in first announcing the FNT acquisition, ATC advised that it would "begin a round of Institutional and broker presentations scheduled for the coming weeks"?.

This was repeated on 4/7 as part of the Shanghai announcement.

Then, on 17/9, ATC announced its proposed dual London listing in the following terms:

"Advantage Telecommunications Limited (ASX: ATC) announces that the Board have agreed to pursue a London listing over the coming year.
John Palermo, Chairman, said "Following a meeting of the Board it was agreed that the Company would move to obtain a dual listing in London. The proposed FNT acquisition will give the Company the critical mass and UK presence necessary to achieve such a listing".

I do not doubt what you have suggested, but it seems strange how ATC is approaching this, and how it is treating its shareholder base. Constructive shareholder engagement appears, therefore, to be missing from the equation, even if good things are apparently being done behind the scenes.

In that regard, the recent XGM demonstrated:
1)
considerable negativity to some of what was being proposed; and
2)
confusion over the actual nature and extent of the voting.

Out of 63m shares received, 20m voted in favour, 14m against, 7m voted at the proxy's direction, and 22m were ruled invalid. But this only properly accounts for 56m shares, and leaves the 7m "at the proxy's direction" otherwise unaccounted for.