The matter of full disclosure ahead of the demerger meeting is something the Court will look at in the Second Court meeting. Even if a scheme of arrangement is approved by the requisite majority, the Court will not see its role as simply rubber stamping that decision if it believes there have been errors of process. In the case of PR Finance the court rejected the scheme of arrangement on the ground that the company had not released its audited annual financial report ahead of the scheme meeting. Since AMA is not in line to release even its unaudited draft annual report by 24 August, this will be something the court looks at, assuming the AMA directors allow things to unfold that way.
The matter of full disclosure ahead of the demerger meeting is...
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