Originally Posted by
BWR
I'm with Black Peter and Digger on the abysmal and biased so-called Independent Advisers Report and Appraisal Report. In many places it states that "Zetas shareholding increasing from 19.8% to 24.42% (doesn't mention this is at no cost to Zeta) will not significantly increase Zeta's ability to exert shareholder control over NZOG." He goes on to state "At most, their voting rights will increase by 4.62% to 24.42%."
Anyone can calculate that the extra 4.62% actually represents a 22% increase in their voting power.
It appears to me that this report does not reasonably state the advantages and disadvantages of a share buy-back scheme, and is facile and biased towards the 22% increase of voting power that Zeta will gain without having to spend one more cent of their own money.
I will be joining Digger in voting against this proposal. With Zeta's interests not being allowed to vote I encourage everyone of similar mind to also vote against the proposal, we could well stop the resolution from succeeding.
By the way Digger, I see from page 10 of the Simmons Report that your company now holds 32,000,000 shares!