Cant get through to ASIC yet but I did just get off the phone with Alan from the Takeover panel.
He gave me a very....technical answer to my question about if it is legal to purchase shares on market with the specific intent on giving them to the company making the takeover so that they are successful.
He said if the share price is trading above the offer price then it could be questionable. Of course they prefer me to have legal representation and cough up over $2000 for an official complaint.
After being fairly generic in my questioning to start with, I then squarely pointed the finger at trading in Brockman Resources and their previous findings.
Honestly though, if it ain't in writing I would be lucky if this guy looks into it further based on our conversation.
Next stop...ASIC !
DEALROOM
New Feature Announcement!
We’re excited to introduce the DealRoom portal, now live on site, providing users with exciting access to private equity opportunities for both pre-IPO and publicly listed companies.
See full details by selecting the new menu item named 'DealRoom' on our main menu bar or click below.
Stay ahead of the market, with HotCopper.