Ozgem - I am afraid you are correct, that 20% holding is the key. However with the cash flow NDO have the price will not get slammed long term if the they do not get their 90%. However my experience with a few of these over the years, is that SH's give into the perceived threat of getting slammed one way or the other if they don't sell.
I guess my only question is, how solid is that 20% agreement to sell ? If it is solid then the best holders can do is NOT sell & hope for a 0.5c or so increase bid to mop up the last 20-30% if it is not forth coming. I can't see anyone keen enough to go up against that 20% to try & take the company over.
Anyway early days & will have to see how it plays out. Pity the post Bara over reaction sell down was so short lived as I would have liked to have picked up a few more shares then - Oh well.
NDO Price at posting:
5.1¢ Sentiment: Hold Disclosure: Held
