RE: voting29 Jan 2015 21:01
I totally agree with your sentiments.... I am voting no, simple because I don't equate it out to be a fair value offer. That is my view, as well as my opinion and also my right. But clearly all that will count for nothing if the required voting level is met or exceeded. I am bound by the result and that is fair, regardless of the offer been fair.
If the offer fails to meet the level of exceptance...
(b) the approval of a majority in number of the Scheme Shareholders present and voting at the Court Meeting either in person or by proxy, representing not less than 75 per cent. in value of the Scheme Shares voted by those Scheme Shareholders. At the Court Meeting, voting will be by poll and not on a show of hands and each Scheme Shareholder present in person or by proxy will be entitled to one vote for each Scheme Share held; and
(c) the approval of the Resolutions relating to the Acquisition (including the Capital Reduction) by not less than 75 per cent. of the votes cast, either in person or by proxy, at the General Meeting (to be held directly after the Court Meeting).......Then we may(or may not) have an offer only bid situation, which case the sp may stay around this level.
If FTD decline to take FTO private, then it is possible the sp may fall away as investors who bought in for the 10p cash sell out. Or it may not......
Consortium hold 1,472,383,697 shares....
There are 1,114,616,303 scheme shares, of which they need 75% acceptance...= 835,962,227 if all voted(which they wont) Failing that, they just need 75% of any shares in the scheme voting...so if only 1000 shares were cast then they would just need 750 shares!!!
So vote, be it yes or no for your own reasons......Again, do your own research!!!
Good luck...:-)
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