My understanding is that once FIRB approval takes place shares are issued automatically to CRM, subject to the other terms of the deal offtake etc. What I mean it doesnt require shareholder approval under the 15% Rule.
Is that correct?
Wasn't a big deal when the sheik came aboard. Is FIRB approval just for the chinese.
And does any one know how long this would be considering its only 12%.
I wonder if we will see a Hong Kong Fund buying on open.
There are no restrictions for these guys if they are insto's or hedge funds. And then cross them to CRM later.
If CRM want this bad, I am sure they will bombard the register when she opens.
The fact that BHP is even at the table must be incentive enough.
Cheers
UMC Price at posting:
91.0¢ Sentiment: None Disclosure: Held