The NXS holding will still be a sore point for any predator given it will not be able to go to compulsory acquisition (90% threshold) via a takeover. Therefore, any predator will have to go through a Scheme of Arrangement route re merger or make a deal with NXS.
Even given the large holding in AZA, I doubt whether AZA will allow NXS a seat at the boardroom table (which will annoy NXS no end)!! You can only begin to imagine the continuing bad blood between these two (regardless of what the newspapers and press releases say)!!!
NXS needs cash (which was one of the key reasons for the tilt at AZA) to develop its projects. Expect NXS to be doing the rounds (via its bankers) trying to offload its "blocking" stake in AZA at a "premium" price.
The other question I have is: where is Viking in all of this?
Cheers
P.S. We had a very good day yesterday with the Basker-6A production test flow result. I have not stopped grinning since the release!
AZA
anzon australia limited
