Congratulations to minority shareholders, page-8

The Aust just now
extract only

Takeovers panel hinders Flinders de-listing
The thousands of mum-and-dad shareholders in iron ore play Flinders Mines have scored a big early win against the company’s delisting plans.

The Takeovers Panel this morning made a declaration of unacceptable circumstances in relation to the delisting, which is supported by Flinders’ major shareholder, New Zealand’s Todd Corporation.

In a strongly worded statement, the panel said the proposal found that the delisting proposed by Flinders was likely to “coerce” minority shareholders into selling their shares and would not give minority shareholders enough time or information to assess the merits of the proposal.