No they won't (or can't?) make a higher offer for the remaining if under 90% and GPR announcements have confirmed this. Whilst I haven't personally been in this situation (as KGD shareholders are), I imagine these holders will be left high and dry. GPR control the board and there will be no market left for them to sell out if they wish to.
The main point is any remaining KGD holders will have much more to gain instead being a holder of GPR who are actually funding and proceeding with the development. This is a takeover that will actually benefit the progress of Woodlark so they should be jumping on!
No they won't (or can't?) make a higher offer for the remaining...
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