I think all will be disclosed when the documents arrive as the I.E.R will have to put a valuation on KML with supporting evidence. I will be voting no as I think if they really wanted the rest of KML then make GBG an offer. No need to hand over $25m and waste cash on the demerger. Then we also keep the losses if we accept the offer. Structuring it the way they did suggests they want the losses. Why ?
For all those wondering if this can be stopped - Yes. They need both votes and voters to approve as it is being done as a scheme of arrangement, not a takeover. So minority shareholders can vote this down if they want.
