Currently voting numbers are being double and triple checked for accuracy. At this point it appears that the margin for the NO vote is overwhelming ie the margin over the required 25%.* Should there be less than 100% participation in the vote this margin can only increase**.
From the 2010 Annual report there are are 125 shareholders with >100K shares. I am one of those and so are most of those I am in contact with yet AFAIK only one of us has been approached by Cellestis for their opinion. It appears that they really have no idea how shareholders view the proposal and therefore is important to let the board know of your intentions. You can do so by ringing 1300 893 956 or by email.
Once voting numbers are finalised representation will be made to the Board advising them of the situation.
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* reading that back, it seems just a tad confusing. At the end of the day for the proposal to succeed it needs 75% of shares that are voting to vote YES. Therefore if +25% of the shares that vote vote NO the deal will be stopped in its tracks.
** More from Ian Verrender
According to research conducted by polling firm, Global Proxy Solicitations, only 33.5 per cent of retail shareholders voted on some of the biggest takeover schemes in Australian history in recent times.
Of the 14 transactions researched - including the Wesfarmers takeover of Coles - the average percentage of all capital voted was just 64.92 per cent, and that included the votes of the big institutional shareholders.
It seems the apathy is concentrated among those who don't hold strong negative views about a merger. They rarely vote in favour.
Those, however, who hold strong negative views almost always vote no, which is making it more difficult to get schemes of arrangement across the line.
