bolton wins, page-4

jg

See article for possible answer.

http://www.businessspectator.com.au/bs.nsf/Article/Will-Macquarie-get-a-vote-$pd20090331-QMSFJ?OpenDocument

QIC (10%)+Capital Group(7%) + MQG (8.2%) total at least 25% of BCS to block special resolution to wind it up. Therefore, not much point for Bolton to acquire more units on-market.

However, litigators, IMF is considering applying to the court to prevent Macquarie from voting at any shareholders' meeting which would neuter the 8.2 per cent of BrisConnections Macquarie bought on market.

Interesting times ahead.