Whoa. I just read the notice of meeting almost cover to cover (that was an exciting 4 hours), and... it turns out the delisting is guaranteed, but the buyback isn't. Why? Well, the 59% holder is voting for the delisting, hence it will be approved. End of story. However, that same holder is abstaining from the buyback vote, so the buyback isn't guaranteed at all. So, yeah, this is a real stitchup. No wonder the sp is where it is. In fact, it's somewhat surprising it's not even lower. Perhaps holders will get 12c. But perhaps they'll be stuck with an unlisted minority interest in a company controlled by private equity. I think they call this Hobson's choice.
CGH Price at posting:
10.5¢ Sentiment: Sell Disclosure: Held
