Acceptances received into the IAF include those of Macquarie Metals & Energy Capital(Azimuth’s largest shareholder) representing 16.65% of Azimuth’s ordinary shares on issue.
Assuming Macquarie Metals & Energy Capital are happy to accept the try offer even if the 90% target is not reached TRY are only 3% or so off being in a position to take control of the board of AZH.
IMO, anyone who holds AZH and was against the T/O offer will need to reconsider their position.
AZH Price at posting:
30.5¢ Sentiment: Buy Disclosure: Not Held
