If the scheme is voted down, the board should then resign as the vote needs to be taken as a vote of No Confidence in the board. If this should happen an alternate board will be needed a.s.p. I hope some of the previous members are interested. The existing board appears as most boards to represent their own interests and not the shareholders. My reasons on this are (1) not telling shareholders of earlier approach by AGL so they can issue and appear great board members taking up their entitlement knowing they will win on the arbitrage. (2) the rollover by the board when told they had one week to unaminously back the takeover. (3)the takeover being done on layby terms by AGL {no money until November} (4) no works to be undertaken during that time which may increase shareholder value.
MOS Price at posting:
15.5¢ Sentiment: Hold Disclosure: Held