Posted by Red Hatter on 17/1/2020, 10:04 am, in reply to "Another question"
The sale and purchase agreement (SPA) was and still is subject to non-disclosure, so unfortunately there was no provision for consultation. The Co-op board was required to act on behalf of the membership.
As the Co-op was only a minor shareholder, the new owners could have used a drag along clause to buy out minor shareholders.
To be fair, they didn't want to do that. Mark Stott and his team met with the Co-op, provided a presentation and answered all our questions and concerns. We've outlined this in our statement: