Does anyone know what rights the shareholders have? Can the administrator force a transaction at any price, without any shareholder approval? or do we have the same rights as an ASX listed corporate, can they put it up as a recommended scheme, with the ability for a superior (Chinese) bidder to come over the top?
Would love to see some competitive tension in this sale. But given history and the involvement of Lewins - I have no confidence.
As Jubilee are raising $30m debt. I believe Macquarie will exit without converting (although they may get some warrants to sweeten the deal).
PLA Price at posting:
6.7¢ Sentiment: Hold Disclosure: Held
