That just means that at the time of lodging the substantial...

That just means that at the time of lodging the substantial holding notice RMS did not have a registered interest in the shares.

The relevant interest arises through the agreement that was made with the people accepting the offer despite RMS not being the registered holder because section 608 (2)(b)(ii) of the corporations law deems that RMS has a controlling interest in those shares through an agreement.

http://www5.austlii.edu.au/au/legis/cth/num_act/ca2001172/s608.html

None of that says that shares will be returned to the EXU holders who accepted. You’ll need to do better than that.

If it is a case that the deaftimg condition voids the contract between RMS and the EXU holders who have accepted the offer, they certainly haven’t made it very clear in the documentation I have read. The offer might be terminated but the contract between buyer (RMS) and the sellers of EXU might still stand as the offer was accepted by some.

If the offer doesn’t stand RMS have had a free ride off the back of the acceptances that we’re forthcoming. ie they have tied up the ability of those people to deal with either stock for months while testimg the water with their inadequate offer. Seems a pretty poor outcome for people accepting. What if you accepted early and the share price of EXU fell to 1 cent in the meantime, would you not be entitled to the RMS shares?? If that’s the case this offer really rides roughshod on holders of EXU who accepted in good faith.

RMS should have put a warning on their offer in 20 font bold face saying “ if you accept our offer we will hold an opinion over your shares for as long as we please and if your EXU shares devalue and any defeating conditions cause us to withdraw the offer you can lose money by accepting based on the diminished value of the shares covered by your acceptances when we return them to you”. That would have been a fair and prominent warning that should have cut through all the other legal BS.

@smartdude said they had accepted early on in the piece in respect of some of the shares they bought in EXU. What do you think the truth is smartdude. Are they going to be returning shares to you that you bought at the beginning of the offer period at over presumably over 10 cents. If so how do you feel about getting your shares returned which are now valued at 8 cents. If this is really the case as many RMS holders think, how do you feel about the disclosure documents? Do you think they fairly advised investors who were accepting about this risk? Esh