SoAs require 75% by vote and 50% by number. So someone holding $1 has the same second limb power as a $1m holder. Back in the day we would pay people to purchase tiny holdings as a defence to the second limb (cant do this anymore). Nowdays 2nd limb a pretty major hurdle to get over when aquiring a small cap due to the quantity of retail holders that are uncontactable.
Importantly, you can't buy unmarketable parcels while under active offer.
I've done this process a dozen times as an M&A lawyer.
Ann: Retention Notice - Sale of Unmarketable Parcels, page-10
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Last
46.0¢ |
Change
-0.010(2.13%) |
Mkt cap ! $91.85M | |||
| Open | High | Low | Value | Volume |
| 45.5¢ | 47.0¢ | 45.5¢ | $20.66K | 45.37K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 23228 | 45.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 7684 | 1 |
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| Last trade - 15.59pm 09/07/2024 (20 minute delay) ? |
| ARL (ASX) Chart |