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

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bilulu

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28/03/19

16:05

Post #: 37916677
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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?

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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
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