midlife - please see my post earlier #4540143 because I agree with you. only 104m shares need to vote against proposal for it to fail.
***** If s/h are really believe this price of 31c is inadequate then we can do something about. When Sonic did the same thing to Independent Practitioner Network (IPN) and made a low ball bid, s/h contacted the Independent Directors and insisted they negotiate a higher price. It worked. These directors will not do a thing unless we write or phone or email them and tell them the price is inadequate and that we insist they go back and get a better price. They have already recommended the t/o at 31c, so they won't go back unless we tell them to. If LLC think that a big number of s/h may vote against the bid, then LLC will increase the bid.
Remember, it is not just the big sh with the power - it is also the small s/h -because for the Scheme to be approved it needs 75% by number of s/h who vote in order for it to be approved.
EXAMPLE OF LETTER TO CHAIRMAN
"Mr Andrew Love, Chairman of LLP Level 4, 111 Cecil Street, South Melbourne VIC 3205 02 9286 9999 ((LLP - Facsimile: 03 8699 3505))))
Dear Mr Love, I am a shareholder in LLP. I understand that lend Lease Corp Ltd has offered to purchase my shares for 31c each, by way of a Scheme of Arrangement. I believe that the offered price of 31c is totally inadequate, and I will not be accepting the offer, and I intend to vote against the Scheme. As the Chairman of LLP, and an Independent Director of LLP, I ask that you negotiate with LLC in order that LLC provides the minority shareholders with a more realistic offer. It is my view, that unless LLC offers shareholders a more realistic offer, that the Scheme will be voted down."
If sh are sincere in wanting a better price - then they need to act to cause it to happen.
cheers
LLP Price at posting:
29.5¢ Sentiment: None Disclosure: Held
