Ann: Independent Expert confirms merger is Reasonable, page-24

Yes, exactly what has happened and I've been through the offer documents I received in the mail yesterday twice now to double check.  You'll notice on the ASX announcement on the 7th the proxy form is blank yet the one I received has big black printed X's which means there's no way for me to return the form and vote no.  I also hope the ASX will review this along with the countless other discrepancies between reality and management's endorsement of the deal.  I cannot believe how management which are subject to duty of care / governance requirements are endorsing something which even company paid analysis is saying is an unfair deal to MLR shareholders.  Throughout any summary of the deal management keep on saying reasonable as a positive but are purposely leaving out the NOT FAIR.  Surely with $6m+ AUD in the bank and funding for companies still hard to come by there's better deals out there than taking on over $20m of debt and a handing a controlling share to a company with market cap of 25% less and assets vs liabilities much worse than even a 1/1 ratio.

I could care less who runs the company and boardroom politics provided that management acts in the interests of all shareholders.  Unfortunately with many of the penny shares I've invested in over the past decade this hasn't been the case and hopefully this isn't going to be another example where I get the rough end of the pineapple.