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smartchemist

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05/10/18

21:49

Post #: 36018989
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Originally posted by Maysgr ↑

@smartchemist
@Galaxycar @RedTerritory

I have gone back and had a bit of a read of the Panel Orders, and associated announcements.

I missinterpreted how they could pay the $0.35 compensation. I apologise for my error.
I believe they can still declare a dividend or capital reduction.
They may look to get rid of us first, before doing this (otherwise we would be receiving the dividend or capital reduction too).

I don't know how long T2 have to make a revised offer (after they receive the new IER), and how long they have to pay it? Hopefully ASIC will enlighten me shortly.

I wouldn't rule out the possibility of seeing some delaying tactics by T2 here.
Trigger the GCA ASAP to keep the value down (cash in the bank and JORC failure).
Then try every trick in the book to delay payment, until it suits T2 (being able to sell their FND shares).

From memory November 30 is the date where the freeze on action on the FND holding expires. That $20m tied up for another 7-8 weeks. $20m is a bit over $2 per RRP share.

There will be plenty to watch here, and further complaints to ASIC couldn't be ruled out at this time.

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No worries.
Surely they can't delay that date the 35c is due.It is a contract that they would be in breach of-then what happens?
The takeover panel would take Galt to the cleaners!

RRP Price at posting: 8.5¢ Sentiment: Hold Disclosure: Held
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Another Anniversary, page-57

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