goodaye Guys,I posted here a while back.i am not a s/h of OIP -...

goodaye Guys,
I posted here a while back.
i am not a s/h of OIP - but i think the GGX deal stinks.
It is clearly designed to save the investment that the OIP directors have in GGX.

One thing seems clear to me.
If the Scheme gets voted down at the EGM, then the Directors of OIP who voted in favour of the Schem MUST resign.

S/h should demand, before voting, that the directors confirm which of them voted in favour of the Scheme, then demand to be told if they will resigh from the Board of OIP if the Scheme is voted down. ie a Board Spill.

One would probably ask one OIP Board member to stay, so that he could appoint further directors.

The bid by OXX is clever - it gives OIP s/h a reason and a yardstick with which to vote down the Scheme.
Albers is a clever operator thats for sure.

What will be interesting, is that it will put ESG on the spot - it will have to decide which way to vote - and it will make it harder for ESG to justify voting in favour of the Scheme.
It (the OXX offer) may even give them an "out" to vote against the Scheme without upsetting any "mates".
cheers