I understand that to trigger compulsory acquisition there are actually two requirements :
1. at least 90% of shares, AND
2. acquired at least 75% of the shares that the bidder offered to acquire under the bid.
Therefore to meet test number 2, Taurus will need to achieve a total shareholding of 96.29%.
Taurus need to acquire 75% of the shares they don't own. (75% x 14.84% -> 11.13% + 85.16% existing holding).
This requirement should be sufficient to block the compulsory acquisition unless they can find a way around it.
RRP Price at posting:
8.5¢ Sentiment: Buy Disclosure: Held
