If a party acquires more than 20% shares in a company they are supposed to make a compulsory takeover bid I thought.
https://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=panel_process/summary_of_takeover_provisions_in_australia.htm#acquisition_limit
They can make a bid but they need 90% acceptance to make it binding and final.
Ann: Appendix 4D, page-26
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Last
86.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $26.23M | |||
| Open | High | Low | Value | Volume |
| 85.5¢ | 86.5¢ | 85.0¢ | $2.482K | 2.897K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 25000 | 86.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 87.5¢ | 500 | 1 |
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| RLT (ASX) Chart |