Ann: Quarterly Cashflow Report, page-127

Why does the price of the buy in keep getting brought up? Let me know if I'm wrong on the below.
https://www.ashurst.com/en/news-and-insights/legal-updates/takeovers-in-australia/

SKI can't buy more than 20% of the company under the corporations act without approval from the Government (good luck lol). SKI can't buy on market without jacking up the price.

SKI are literally forced to do it this way if they want to take up the option. They are not going to try and get "more shares" for a cheaper SP.

I presume the 12c SP was chosen for some tax/corporate reason and it is not to be treated in the same way that we buy shares.

SKI are essentially trading 80m for 19.99% of the company, the maximum they are allowed to buy without approval from the government.

Note this section:
If the potential acquirer is a foreign person, or is controlled (20%+) by a foreign person (including a foreign government), it may need to obtain prior clearance from the Federal Treasurer, through the Foreign Investment Review Board (FIRB). The Treasurer has power to block acquisitions that are contrary to Australia’s national interest, and make disposal orders if the acquisition has happened. In making his decision the Treasurer and FIRB will consult with a range of other government agencies (including competition, taxation, defence and security agencies).