Ann: Becoming a substantial holder from MS, page-29

Kalenn, following from the Corporations act in one ofASIC's explatory notes, to a layman like me i cannot detect any difference, they still have the right to acquire.

"There are two types of compulsory acquisition under Chapter 6A: (a) post-bid compulsory acquisition—under which a bidder who has, during or at the end of the bid acquired relevant interests in 90% of securities in the bid class (90% Relevant Interest Test), and has acquired 75% of the securities that the bidder made offers for under the bid (75% Acquisition Test), may compulsorily acquire outstanding bid class securities; and (b) general compulsory acquisition—under which any person can compulsorily acquire securities: (i) in a class in respect of which the person holds full beneficial interest in 90% of the securities (by number); or (ii) where the person has voting power in the entity of at least 90% and holds, either alone, or with a related body corporate, full beneficial interests in at least 90% (by value) of all the securities of the entity that are either shares or interests or convertible into shares or interests"