"The real snag comes from the BOD not accepting their offer. If this happens, which I think is likely at this point, the SRP becomes very important, as it literally destroys their game plan to date. Hence the application for the OSC to not allow it."
To refuse support to Cliffs offer, Spider's board has to find a way to allow the Special Comittee to declare that the Cliffs Offer is not a Superior Proposal (as per the Amended Amalgamation Agreement). So the key will come from KWG side: else KWG does upgrade still more, or else they file a Court action to counter the '60 minutes fast-track detemination' that Spider donated to Cliffs following receipt of KWG Offer to amend the Amalgamation Agreement. I repeat: Neil has a gun aimed at his head, or either he has a foot (and a arm) in Cliffs"s bed...
Besides. I agree with Hoov that writing to the OSC may be of no use. But in the present circumstances, given that the Requisition from Cliffs is founded on Shareholders rights - i.e OURS (thanks for your kind help, Mr Boor!)-, I do think that a flurry of emails stating that we feel crooked in the process, would open some ears as to the retail shareholders' view of what's happening. OSC is becoming more and more sensible to this than they could have been a few years ago, take my word on it...
Our only voice is voting, and our only protection is a Shareholders Plan. And Cliffs just want to depart us from these? And under the false ground that it is in our interest? Come on! Let us vote freely, and please keep the Shareholders Plan that we voted for last year in force. Please!
I also expect KWG to file a procedure in common courts. Being a hareholder of KWG also, I just feel crooked, right now, like our President. Let's go, Frank.
GLTA.
BaBe.
