It may be a bid, or likely a Scheme of Arrangement, as the wording in the announcement clearly states it is a Control Transaction.
The Australian Government operates an entity named the Takeovers Panel: http://www.takeovers.gov.au/ From the menu, click "Panel and Process" then click "Glossary." Find "control transaction" from the list. Here it will state: Control Transaction: A bid, scheme or other transaction under which a person (the 'bidder') obtains control over a company (the 'target'). Clicking on the word scheme will link to this statement: "A court supervised arrangement between a company and its shareholders, which is an exception to the takeover prohibition and an alternative to a bid."
From Minter Ellison Services website, https://www.minterellison.com/articles/how-a-scheme-of-arrangement-works The key phases and steps in a scheme of arrangement are shown below:
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Last
8.4¢ |
Change
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Mkt cap ! $10.09M |
Open | High | Low | Value | Volume |
8.7¢ | 8.8¢ | 8.4¢ | $41.07K | 481.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 5056 | 8.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.7¢ | 131766 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 66000 | 0.075 |
1 | 10000 | 0.071 |
1 | 50000 | 0.070 |
1 | 200000 | 0.065 |
1 | 67231 | 0.063 |
Price($) | Vol. | No. |
---|---|---|
0.081 | 20103 | 1 |
0.082 | 25517 | 2 |
0.110 | 991 | 1 |
0.120 | 80000 | 1 |
0.150 | 12000 | 1 |
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