Greg Woolley is doing his best to scare RCU investors into handing their units to him at a massive discount to NTA. His latest supplementary bidder’s statement informs us that he is going to keep at least 10.1% so that another bidder ‘would be unable to acquire RCU’.
True. No one is going to be able to acquire 100%. And, with Woolley controlling 31%, no one else is going to get the 75% required for a scheme of arrangement.