Ann: GML: CTO: Citigold Takeover Bid for Gateway , page-15

re: Ann: GML: CTO: Citigold Takeover Bid for ... Hi all,

On page 4 of the announcement it says the following:

h) Market change condition
Before the end of the Offer Period, the S&P ASX 200 Index does not close below 3,700 on any three (3) consecutive trading days.


Correct me if I'm wrong, but if the S&P ASX 200 index does fall below 3700 for 3 consecutive days, doesn't that mean that the takeover offer is automatically cancelled? If you believe a general market correction is approaching, then 3700 doesn't appear that far off from current market levels (I think the Friday close for the S&P ASX 200 was 3828.21), and so you have nothing to worry about concerning the takeover.

Please let me know if this is a correct analysis of the statement or not.