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4.5¢ atlas iron limited

Ann: Change in substantial holding, page-73

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HamburgerK

1,119 Posts.

243

04/08/18

17:20

Post #: 34722596
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Originally posted by HamburgerK ↑

DYOR:
Further clarification to my comment above.

Extract from "Bidder's Statement - 2nd Supplement":
(e) Redstone's ability, therefore, to achieve some of its intentions, including the
potential integration of Atlas' business and mining assets into the HPPL Group's
operations, might not be able to be realised, either at all or without the approval of
Atlas Shareholders in general meeting. For example, to the extent that Redstone
has a relevant interest in more than 50% but less than 100% of Atlas Shares and a
transaction is proposed between Redstone (or other HPPL Group entities) and Atlas, then because Redstone (or that other HPPL Group entity) will be a "related
party" of Atlas at that time, the transaction may be required to be subject to the
prior approval of Atlas Shareholders in general meeting (with Redstone and its
associates precluded from voting on the relevant resolution, and other regulatory
requirements to be complied with).

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DYOR:

Further to the above extract, any resolutions which are "related party" would need the approval of FMG mainly as they will be the new majority holder with voting rights, interesting the Twiggy will be holding all the cards.
Happy to be part of the Twiggy team.

AGO Price at posting: 4.2¢ Sentiment: Buy Disclosure: Held
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