nsw csg regulations - smh, page-18

No, it's not rubbish.
Go and tell WCL that you want to accept the "offer" of 52c, when all the "conditions" are satisfied.
They will say to you "what offer?"

Some are referring to the word "offer" in everyday language.

I am referring to "Offer" in terms of a Formal Offer under the Corps Act/Takeovers legislation and Rules.

And that distinction is important, because that is the mechanism by which you will sell your shares under a t/o.

Again, there is a big difference between a "proposal" and an "Offer"

Once a formal offer is made, the acquirer must abide by all sorts of rules, and MUST purchase your shares, if all the conditions are satisfied. Under the WCL non-binding "proposal" there is no such obligation on the "proposer" to acquire the shares - it's "non-binding". And I think it is "non-binding even if all the conditions of their "proposal" are satisfied.

A similar situation arose with BOW - they received a similar "non-binding proposal" at $1.48, which then changed to an agreed Offer of $1.52 by way of a binding Scheme of Arrangement.

anyway, ring the company. Good luck getting the "proposer" to buy your shares now for 52c.

i am just an investor, just like everyone else. I suggest you ring the company if you want to be sure.

cheers