If I read this correctly "Paladin acquiring a relevant interest in more than 90% of all Summit shares on issue, and at least 75% of the Summit shares that Paladin is offering to acquire under the Offer;" then we are screwed merely by the intention the two biggest share holders are accepting the deal.
I thought that the 75% clause related to the amount of shareholders accepting the deal not the percentage of shares.
Might put a call into the Takeovers Panel to verify.
Ann: PDN: Recommended Takeover Offer of Summit Resources, page-5
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.123M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $381 | 127.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 19 | 18298666 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 540108 | 3 |
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