it's long process but the bottom line is the premium depends on experts report what the fair value of the company is and then approved by asic. the process may take very long time.
before you get to 90% holdings two things will have to happen. the parent company will have to resume purchasing more stocks to get to the 90% or cimic will have to resume buyback so the shares outstanding will be reduced to a point where the partner company gets to 90% holdings. in the process of getting there long term holder will be remunerated by some form of premium due to organic price appreciation and short covering.
so in summary you should be able to get your premium either during the accumulation phase or a fair value report by the experts assigned by asic.
given the legal complexity and time consuming process, I believe the parent company will pay premium to take over the remaining shares and avoid invoking the compulsory acquisition act. alternatively, a third party will come along and make a take over offer to purchase all shares. in this case the parent company has the majority of the voting power either to accept reject the offer.
cheers
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