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Scheme of Arrangement

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Frequent Contributor
Excerpt from Scheme of Arrangement memo: "Option One: 0.0276837 Fluormin PLC shares for every 1 Sallies? ordinary share held (rounded down to the nearest whole Fluormin PLC share in the event of fractional holdings) Option Two: A cash consideration of ZAR0.14 per share. Should no response be received, the default option as per your signed mandate will be applied. If you have no default option indicated on your signed mandate, option two (cash) will be applied." Any opinions on this one.
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2 REPLIES 2
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Frequent Contributor
This Sallies scheme of arrangement is bull*****, pure and simple. Now the company is expecting minority shareholders to open a CREST account in the UK. Effectively they are hijacking this process and forcing minority shareholders to sell at 14c. Surely, this is not legal or ethical!!!
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take the 14c boet, in fact, take it now in case the offer somehow falls through - you will not get an exit out of sallies like this again. this company is not viable on its own.
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