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Fantastic explanation!Thank you

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21/05/24

14:19

Post #: 73935428
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Originally posted by Jonkb: ↑

Okay here goes

At the moment controls 56% of the shares of MLM.

It has full control - just needs to call a shareholders' meeting.

It can replace the board in its entirety and DRX can consolidate MLM into its own financial statmenets.

However, it has to keep both Companies separate, inclduing bank accounts etc and still has to publish MLM financial statements.

The only way to move to full control is to put another offer out (at the same price) and then then need to get 75% of the shares they do not own and they can apply to the court for a "scheme of arrangement" and force the remaining shareholders to accept. They cannot vote the shares they own in MLM so they would need 75% of the 44% they do not own

they also can have an on market offer and try get to 90% and then they can compulsory acquire the remaining 10%

in my humble opinion, it is futile for the remaing shareholders at MLM to hold out. there is no mileage in it for them,

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Fantastic explanation!

Thank you

DRX Price at posting: 1.9¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 1.6¢		Change -0.001(5.88%)		Mkt cap ! $59.67M

Open	High	Low	Value	Volume
1.6¢	1.6¢	1.6¢	$44.98K	2.811M

Buyers (Bids)

No.	Vol.	Price($)
4	652243	1.6¢

Sellers (Offers)

Price($)	Vol.	No.
1.8¢	1451432	4

View Market Depth

No.	Vol.	Price($)
4	652243	0.016
2	500000	0.015
2	400000	0.014
1	80000	0.013
3	280000	0.012

Price($)	Vol.	No.
0.018	1451432	4
0.019	2230000	3
0.020	280670	4
0.021	155358	3
0.023	1482640	4

Last trade - 13.55pm 14/06/2024 (20 minute delay)


Last 1.6¢			Change -0.001 ( 5.88 %)
Open	High		Low	Volume
1.6¢	1.6¢		1.6¢	20400
Last updated 11.13am 14/06/2024 ?

DRX (ASX) Chart