Say my placement idea eventuated. Dingyi are desperate for control, we all know that. They don't want to share the project or do a JV. On page 30 of the target statement (6.9), they have 5 days to match a competing offer but in my scenario they may not want to or choose not to match it.
So the Dingyi offer would still remain open until 21st November as Dingyi may wait to see if enough shareholders still prefer the upfront cash payment of their offer instead of a placement even if at a higher price.
Therefore, the offer would remain open and if you go to page 30 of the target statement bottom paragraph(c) it again states once you accept the offer, you will not be able to accept any other offer that may emerge unless the Dingyi offer lapses which in my scenario above, it would not of.
So I assume they could in this case use our shares to vote when the placement at 75 cents goes to a vote at a general meeting.
K2P Price at posting:
55.0¢ Sentiment: None Disclosure: Held
