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I'm more thinking the 15% is us. If a 3rd party comes in and...

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RedTerritory

2,986 Posts.

32

11/04/18

08:02

Post #: 32364079
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Originally posted by Maysgr ↑

Cbboyz is referring to a capital raise (the 15% stake mentioned in the article) I suspect.

The only thing us retail shareholders can control at present is whether we accept the current offer of 90c per share from Taurus.

I sure as hell won't be at the current 90c offer.

Taurus control what happens next.

If a 3rd party takeover bid gains approval from Taurus then it is all over.

If Taurus agree to a deal to allow a 3rd party to take a 15% stake (at a price they are happy with) Taurus will facilitate it.

Taurus will be doing the sums as to how many shares they can hold to meet the 80% free float requirements. IMO they will look to issue more shares, as opposed to dilute their existing holding.

They obviously have the power to vote it through at an EGM if it is above the normal 15% yearly placement allowance.

Taurus will withdraw the takeover offer if it goes down this path, to allow ASX guidelines to be met.

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I'm more thinking the 15% is us. If a 3rd party comes in and offers $2 then we would all sell to them.

I would still probably keep mine and just soak up dividends going forward.

Either way T2 will not be getting my shares....scum bags offering to steel our shares is immoral

RRP Price at posting: 8.5¢ Sentiment: Hold Disclosure: Held
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