for ralphi - prefs scheme, page-8

re: for ralphi - prefs scheme (2) G'day ralphi, good to see someone else is into them heavily - I am a top 100 holder of the prefs but only a few ords.

Why did you decide to invest so heavily - i.e. did you think they were really cheap or something else?

I'm not sure but I think according to corps law in response to a takeover offer the directors must release a statement whether they:
1. Recommend or don't recommend
or
2. State why they can't make a recommendation at all

If an offer was made couldn't they just not make a recommendation and therefore they wouldn't convert? Any extra info is welcomed. There has to be some way to force them to convert as it seems the only logical reason why there is all this secrecy with the investors who voted it down.

Ed