What it is basically is about is that the recent share transaction by Shougang who purchased 19.8% has a long link all to the one major shareholder APAC who owns 20.3% which takes that major shareholder to around 40% of MGX.
So MGX now believe that APAC have a controlling interest in the company and have exceeded the takeover provisions. So they, I beleive, wish for a ruling saying that the Shougang purchase should not proceed or that Apac should proceed to takeover MGX.
fair takeover premium, page-8
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Last
28.0¢ |
Change
-0.015(5.08%) |
Mkt cap ! $341.1M | |||
| Open | High | Low | Value | Volume |
| 29.0¢ | 29.5¢ | 28.0¢ | $452.0K | 1.581M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 719630 | 28.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 32325 | 2 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| MGX (ASX) Chart |