Australia's largest stock trading and investment forum Australia's #1 stock forum

TAP

Click for more information

0.00%

7.8¢ tap oil limited

To Tap or not to Tap, page-43

First 43 Last

Share
Profile

Follow
lacep91

24 Posts.

2

30/08/18

19:02

Post #: 35305691
Share

Originally posted by Buffalo ↑

In their Bidders statement, Risco state they intend to delist. The ASX rules (as I understand them) allow a simple majority vote by those in attendance at an AGM to decide the issue. If more than 50% of the votes cast are in favour of delisting, the motion is carried. Note this is not 50% of all shares issued. Thus, while Risco and Chatchai had approximately equal sized holdings, it would be difficult for either to unilaterally get the motion approved, particularly if more than 150 seperate shareholders on the register held more than $500 value of shares. With Risco holding ~34%, Chatchai would need support of ~9% of additional voters to stop the motion and this may cause him to cave ultimately. Would this benefit smaller shareholders? I doubt it. We need a big brother to see the value and step in, but time for this is running out fast.

I have not changed my view on fair value, but don't think we are going to realise it.

Expand

Are there any thoughts on a Class Action?
Just putting it out there.

TAP Price at posting: 9.1¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

WC8

Pan Asia rebranding to 'clear confusion' after bagging $35M for Chile projects

ACW

This biotech stock raised $11M in a risk-off environment. Its Alzheimer’s drug could change the game

HotCopper Highlights: Your most watched stocks for Week 47, 2024

MIN

MinRes's Ellison knows he screwed up – for that reason, hunt for new Chair to be sped up

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

SIG

Dale Gillham's weekly wrap: Sigma-Chemist Warehouse merger creates pharma powerhouse

LPE

Sales growth pushes Lovisa's fortunes (and shares) upwards

Week 47 Wrap: HotCopper users' most watched; Brent lifts on Putin's scary letter; RFK dents CSL

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

History-making uranium sample grades and an imminent drill run. Infini Resources is poised to transform in 2025

There are more pages in this discussion • 39 more messages in this thread...

First 43 Last

Add TAP (ASX) to my watchlist

SPONSORED BY