Wow another article in West, page-12

@cantona

This is part of your post on a new thread. I'd prefer to respond here on an established thread.

I guess one party needs an extra 25 to 30 Million shares from here to have definite control of Auris​

this is going to be very interesting leading up to the voting.​

As can be seen from last might's notice, also my above post, Michael Fotios had reached 14.15%. Did he buy more today? Let's wait and see!​

57,727,062 shares = 14.15%​

81,594,020 shares = 20%​

The difference is 23,865,958 shares.​

W

hy 20%? That's the threshold for the takeover law coming into play. In order to avoid having to make a takeover offer, he has to stay at 20% or below.​

This is from this website https://www.allens.com.au/pubs/pdf/ma/takeovers-handbook.pdf​

2.1 The 20% rule
The basic takeover rule is that a person cannot acquire a ‘relevant interest’ in issued voting shares of an Australian incorporated company listed on the ASX (or issued voting shares of an unlisted Australian-incorporated company with more than 50 shareholders, or issued voting interests in an Australian-registered managed investment scheme listed on the ASX) through a transaction in relation to securities entered into by or on behalf of the person if, because of that acquisition, that person’s or someone else’s ‘voting power’ in the relevant entity:
• increases from 20% or below to more than 20%; or
• increases from a starting point that is above 20% and below 90%, unless the acquisition occurs via a specified exception (such as a takeover bid, scheme of arrangement or with target shareholder approval).
This is commonly known as the ‘20% rule’ or ‘20% takeovers threshold’. At a basic level, the 20% rule means that a person is limited to holding a 20% shareholding interest in an ASX-listed company and cannot move beyond that except via a specified exception.​

Watch this space! Are the protagonists playing this card?