Proposed Timeline for Completion of the Transaction1 Execution...

Proposed Timeline for Completion of the Transaction
1 Execution of term sheet pursuant to authorities from
each company’s Board and announcement to the ASX
20 July 2009
2 Completion of mutual due diligence
10 August 2009
3 Satisfaction of conditions precedent and execution of
Merger Implementation Agreement
19 August 2009
4 Approval of Scheme Documentation, Notices of
shareholders’ meetings and Explanatory Memorandum
26 August 2009
5 Lodgement of notice of meeting and Scheme
documentation with ASX and, where required, with ASIC
27 August 2009
6 Lodgement of application with Court
4 September 2009
7 Court hearing
18 September 2009
8 Dispatch Scheme documents and notices of
Shareholders’ meetings
22 September 2009
9 Scheme meeting of Carbon Planet and announcement of
results
21 October 2009
10 General meeting of m2m and announcement of results
22 October 2009
11 Court hearing for approval of the Scheme
29 October 2009
12 Lodgement of court order with ASIC and last day for
trading in pre-reorganisation securities
2 November 2009
13 New shares commence trading
18 November 2009

This was the proposed time line by MCL when we were announced about the potential merger with Carbon Planet...


OK - we know it was merely a proposaltime line give and take a few weeks on either side - but since this announcement on 20th July, and subsequent slide presentation by Carbon Planet, nothing else to date has been mentionned, and in 5 days it will be 2 months down the track..

Seriously am I the only shareholder here following this stock who thinks that it is a bit rank of the company not to give us an update as to whether this development is still happening and perhaps, an adjusted & more realistic timeline - as we obviously will not be trading under the new company by November at this rate.

After the last Hi-Tech episode, and all the other failed ventures it would not be unreasonable of shareholders to feel a little ambiguous & sceptical here about our position and where the company is/is not going.