exco's response to cash offer ..., page-19

"At what point do we have to acept their offer?? (are forced to, perhaps one for you lionel."

You dont have to accept even if the board recommend that you do - they have to get to 90% acceptance before they can compulsorily acquire the last 10% - the worry is if they get 50% acceptance including their holding

50% plus 1 shares gives them control of the company at which point they can call an EGM and sack the board and install their own people.

Possibly this is why the board are " considering " their offer rather than telling them to go jump today. ?

Hoot