I agree there will be no pressure to take up the offer.,...

I agree there will be no pressure to take up the offer., especially with condition 10:

"10. Flinders will use reasonable endeavours to seek alternative means bywhich retail Flinders' shareholders may trade their shares after theDe-Listing, provided the cost and compliance burden of such tradingplatforms do not exceed the benefits."

They will have to convince the ASX there will be a means of trading FMS shares after de-listing. I am not sure how they will do that. But ASIC and ASX will be watching closely. Their way of guaranteeing this de listing tradeable market will have to be convincing  and will have to guarantee a floor price IMO.