I got a reply from ASIC on Friday afternoon.The depth of...

I got a reply from ASIC on Friday afternoon.

The depth of information forthcoming from ASIC was insufficient to fully answer my questions.

I have emailed Realm and asked them to outline what they believe the process will be from here.

I have been re-reading some information over the weekend, and it would appear some things will play out differently to what I thought they would.

It would seem that T2 need to advise the IE at what price they intend to offer for the remaining shares, as opposed to having the report completed first and then making a new offer.

it is up to the new IE to determine whether the proposed new offer price is fair.

It also seems that the Court does not have the authority to determine what price T2 pays for the remaining shares (assuming it goes to Court).

If T2 is forced by us to go to Court, they need to satisfy the Court that minority shareholders are being offered fair value. The Court either determine that they are or aren't.

T2 does have the right to make a revised offer, if the Court finds the first offer was not fair.