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Greenmailing is back?

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22/01/19

14:17

Post #: 37187432
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Originally posted by marketminer: ↑

That could be right, potential buyers sitting on the sidelines for now and assessing things but my worry is that perhaps they've waited too long. The Golden people have already crossed 25% of the register, as per a filing last night, which means that they are now in a position to play king maker for (or just outright block) anyone else from trying to get 100% of us. A potential bidder would need 75% of the shares to vote for a scheme of arrangement takeover (no longer possible without this Golden group), and more than that in acceptances to get to a compulsory acquisition of the company. Like it or not, fate of the company is sort of in their hands. Their position will just get enhanced by the buy-back too, which I still don't understand how this is in our long-term interest; Golden Invest won't be allowed to buy more shares in the company for a long period of time after the offer ends, but instead we'll use our money to decrease the float and increase their stake? Sounds like some textbook idea from the "brain trust" at our investment bankers (clearly, investment bankers were only created so that the lawyers wouldn't be too lonely downstairs in the afterlife...)

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Greenmailing is back?

SMR Price at posting: 95.0¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last $3.07		Change 0.010(0.33%)		Mkt cap ! $2.469B

Open	High	Low	Value	Volume
$3.12	$3.14	$3.07	$2.271M	736.4K

Buyers (Bids)

No.	Vol.	Price($)
1	4178	$3.07

Sellers (Offers)

Price($)	Vol.	No.
$3.08	7533	3

View Market Depth

No.	Vol.	Price($)
2	7037	2.620
5	29404	2.610
3	60548	2.600
5	36747	2.590
3	8138	2.580

Price($)	Vol.	No.
2.630	1905	1
2.640	8054	2
2.650	15608	2
2.660	24754	4
2.670	2786	1

Last trade - 16.10pm 15/11/2024 (20 minute delay)

SMR (ASX) Chart