As I understand it, for the Scheme to succeed, Tremont need to secure 75% of the shares (in each class) AND more than 50% of the shareholders....otherwise it fails.
The scheme booklet will be interesting to say the least (I can hardly wait to read it!!) , as will be the so-called Independent Expert's report.
After that, both the ASIC and the Court Hearings (which we can attend!!) will be interesting.
In my opinion, if the minority shareholders are not happy with Tremont's bid - then there appears to be mechanism's in place to make sure it is a "fair and reasonable" offer and that there is no "misleading information" etc.
Given everything we know about Cradle, Tremont and Panda Hill itself (in all respects) , I am definitely not happy with Tremont's offer and I think it is unfair and unreasonable to ALL shareholders - not just the minority ones. I have so many questions....if they aren't answered in the Scheme Booklet - I'll be asking them elsewhere.
As I understand it, for the Scheme to succeed, Tremont need to...
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