Australia's largest stock trading and investment forum Australia's #1 stock forum

GXY

Click for more information

6.40%

$3.51 galaxy resources limited

Might be illegal but it wouldn't be the first time something...

First 4931 Last

Share
Profile

Follow
bilulu

971 Posts.

362

28/03/19

16:05

Post #: 37916677
Share

Originally posted by tutor: ↑

I'll have to check for sure whether Directors are compelled to put any bid to a vote (there might be crazy vexatious bids that get an exception and @SeeTheWorld seems to have an example of a real bid), happy to be corrected. In relation to the rest of the scheme, it would be highly illegal. CMP1, CMP2... CMP15 are associates of XhiLin and therefore XhiLin has Relevant Interests of 58.5%(!), which would be a big no-no. XhiLin would be in breach as soon as CMP2 got past 0.1%. Even if XhiLin owns/controls just 20.1% of each of CMP1...15, it would _still_ have to disclose as they would be associates. There would be big trouble and apart from being risking prosecution, the Takeover Panel would likely disallow the bid to go ahead.

I'm also having trouble understanding "paying MS to short GXY" are you saying MS takes an unhedged short or is XhiLin the one actually taking the short position?

Expand

Might be illegal but it wouldn't be the first time something illegal happens on the asx, would it?

Particularly if all these companies are located in different juridictions. The CMPs might also not be direct subsidiaries to XhiLin.

MS is shorting. Paid by Xhilin to do so.

I guess what I am saying is that there are lots of ways to do that.

GXY Price at posting: $1.85 Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

LPE

Sales growth pushes Lovisa's fortunes (and shares) upwards

PYC

Scientific conference spotlights PYC's work on blindness disease treatment

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

DUI

Panic, paranoia, and gangland politics: HotCopper users react to Dubber's missing $26M

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

SIG

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

HotCopper Highlights: Your most watched stocks for Week 47, 2024

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

There are more pages in this discussion • 7 more messages in this thread...

First 4931 Last

Add GXY (ASX) to my watchlist