Again, not a law expert but the $1.35 offer is not fair value...

Again, not a law expert but the $1.35 offer is not fair value and was supported by the target statement issued on 29/03/2018 where the independent expert valued the COY between $1.62-$1.92.

So even if T2 acquires an interest in at least 90% of the securities it seems that as a member I should still have rights of refusal to sell my shares unless I receive fair market value.

Looks like I'm going to need to dust out my corporate law text book and the corporations Act to refresh my memory on what my remedies are as a member.

It's a given that the second independent expert valuation will exceed the first of $1.62-$1.92 given the extra $34.4M in the bank.

I believe there is enough evidence for members to take action against the directors and or T2 using the COYs money to fund legal proceedings.