If I read this correctly "Paladin acquiring a relevant interest...

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.