HappyCats, you have hit the nail on the head. This transaction is no doubt classified as a Substantial Transaction and as such legally requires shareholder approval. Consequently that was a key condition in the HoA as the lawyers know the law. And rightly so as the owners of the Company need to have the ultimate say.
Imagine the chaos if shareholders were unable to reject a low ball offer accepted by a negligent board. MLX were negligent in not negotiating a break fee.
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Last
40.5¢ |
Change
0.005(1.25%) |
Mkt cap ! $398.7M | |||
| Open | High | Low | Value | Volume |
| 40.0¢ | 41.0¢ | 39.5¢ | $784.4K | 1.951M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 44650 | 40.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 41.0¢ | 147646 | 5 |
View Market Depth
| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| MLX (ASX) Chart |
