5%+ threshold notices mandated to keep the market informed of significant stakes or entitlements being acquired or unwound (reporting required for 1%+ variation) including by associates and borrowed stock. In excess of 20% requires full takeover offer (bidder can nominate a treshold of acceptances required) or shareholder approval at GM to move beyond 20%. 20%+ shareholder may acquire an additional 5% on-market every 6mths without approval. 90% shareholding allows compulsory acquistion of remaining 10%
Directors required to notify of all direct & indirect interests and movements at all times.
Whilst shareholder voting patterns in different companies differ generally 35% of shares ensures board control so 51% rarely required.
The issue with BQT is that Falak and Rudana/4c are both controlled by Falaknatz but the Rudana/4c holding has not been declared in his interest rendering GM voting to approve 4c placement illegal if this can be proven.
BQT
bqt solutions limited
