Thanks to management and the directors of this company for...

Thanks to management and the directors of this company for really sticking it to the minority shareholders with your (un) 'fair' and (un) 'reasonable' offer.  

If you're a director and reading this ... really?

Why don't you offer the multiples from the prospectus? Remember that...have a look, over 8X EBITDA if I remember correctly. So why are you now offering less than 2-2.5X EBITDA? The KPMG 'independent' valuation is 18-22c at 2-2.5X EBITDA. So you're really offering uhhh 1X EBITDA something like that?

Having a look at the (non) 'independent' report it appears that all the directors with any real shares aren't selling into the buy back....wow big surprise.

Number of Shares Percentage of total Shares on issue Intention to accept
Ray Horsburgh A.M. 592,802 0.17% Not accepting
Alex Krueger* 0 - N/A
Dod Wales* 0 - N/A
Geoff Tomlinson 0 - N/A
Professor Paul Dougas 133,033 0.04% Accepting for all shares held
Peter Housden 17,891 0.01% Accepting for all shares held
Peter Reichler 802,201 0.23% Not accepting
Ray Munro 38,725,185 10.93% Not accepting

Things this company has done to try and screw us:
- Completely unreasonable offer and delisting at the worst possible time.
- Using the majority shareholders to really stick it to us, it appears it only needs 50% of votes to delist?? which they have from FR.
- Piling in the on-market announcements to try and obscure the delisting.
- Putting the resolutions at the bottom trying to make them less obvious.
- Announcing a large acquisition after the 'independent' report (which doesn't refer to the acquisition) even though that would be a material consideration.
- Not really providing information of what the real effect of holding shares in a private company will mean for us.

Thanks Horsburgh and the board for this one.

To all HC please vote No to delist, No for the buyback and No to the directors of this mess as i am.

Could any of the HC help everyone here and let us know whether it is worth simply holding on to the shares of the private company Calibre Group if it does delist?. I'll just sit there and get the dividends etc. and never sell i don't care if it's not a liquid market if they aren't going to give me an actual fair price instead of the garbage this is.