Whilst ERM has significant influence over the board its no more than the bankers had over Elders so really I think those questions are for EGO board. In addition if KPMG are to give a report I am sure its detailed. They also probably would not take into account the relative strength of both parties. If another approach had been made given the past I am sure the board would have made some announcement , however why would you offer to buy a plant unless you had control of the gas and condensate supply to feed it?
Personally I think transparency is one thing but the process has just substituted the previous board with ERM and the current EGO board - mistrust and suspicion as before but this time different players. We want to validate each decision yet we pay them to do the job. I dont get it - I dont agree with this deal - My vote as an EGO shareholder will be No - however really its because I believe they will never come out of this as anything good (ERM) - I see what a bad reputation does to companies and I dont want ERM tagged with that - Do you see more customers when there is such frustration and anger - I dont.. however as an ERM shareholder I dont get a vote.
You will have KPMG report well before the vote and thank you for having balance in your comments.
