Just my thoughts:
i think the chances of Phil and his boys being elected to the board – mid merger – are somewhere between microscopically slim and nil. The intended upheaval comes with tremendous uncertainty, both ST and LT, and will wreak havoc on our share price. The Bigs don't want that and won't vote for it. Many long-term retail shareholders will likely feel the same. They/we are just want a way out. Too many ? marks about Phil running the show again. Would that require a 50% + 1 vote?
The deal? I feel like we're in a poker game – 5 card stud. We got nothin' in our hand except a high card. So, we play our ace of spades: The No Vote. What will OSH come back with?? If I understand Botten correctly, he wants us out and him in and he wants it bad. I'm hearing the same language used repeatedly in his recent interviews that he used, also repeatedly, when he bought out PAC LNG, becoming our partner. He wants to be The Influencer of the LNG industry in PNG. He bloody sued because he thought he had preemptive rights over Total! and assumedly intended to exercise those rights. This 1929 company is the bridge between PNG and the SM's. It's all within his reach.
I'm gambling he'll stay in the game. He'll place another bet. Play fair this time, Peter :-)
I'm voting NO on the deal. Gawd, I hate gambling!