Based on their respective "Cash and cash equivalents" as listed on page 14 of the Explanatory Notes for the meeting, the ratio should be $12.77/$0.784.
That's 1 is to 16.3.
On "Total Current Assets" the ratio is $13.092/$0.919.
That's 1 is to 14.2.
If the terms were closer to those figures I too may have been inclined to support the proposal. 1 is to 2.25 is corporate theft by another name.
Still no reply from the regulator, ASX Ltd on what constitutes a "substantial asset" under ASX Rule 10.1 and accordingly who is eligible to vote. Nor anything on our request for sufficient time to allow OIP shareholders to consider the bid from OXX. Both seem to be cases of the law of the jungle being the market regulator.
Regards, Fairgopat
OIP Price at posting:
7.2¢ Sentiment: None Disclosure: Held
