Hi Muzdaz,
I said wrong because they can't buy 3/8s of the stock on the market at one go. They will have to do it in 3% tranches every 6 months, and not necessarily above the $22.15 offer price. 6 months is a long, long time in the market.
The other scenario is they make another proportional offer which Hotcopter has kindly pointed out would need to be made at least six months later.
complaint to asic, page-48
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