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27.5¢ genex power limited

Ann: Receipt of Non-Binding Indicative Proposal, page-52

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aclemence

489 Posts.

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26/07/22

10:01

Post #: 62724452
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Originally posted by baldynumbers: ↑

Is it just my take... the SP has not actually reached 23c - would that indicate the market already expects the offer to be rejected?
If the deal is likely to get ahead... still an easy 20% (minimum) to be had here.... I am obviously wanting to hold - but may hedge my bets while the margin is there and if it fails - lower my holding to see where it reverts to.

Real question is what does J-Power think? if they are against... their 20% stake should be enough (along with a super fund or two who want to hold) to block a special resolution (which needs 75% approval)...

There are substantial holders tying up a large proportion of the company
20% J Power
20% Skip / Stonepeak
6.8% Paradice
6.6% KKR
6.5% Colonial
6.48% First Sentier

IMO directors would hold out... but I personally don't think their shares are the ones that will count on a vote.

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J-Power is 8% according to the Investor Update released this morning and the Top 20% list posted in the news thread the other day

GNX Price at posting: 19.5¢ Sentiment: Hold Disclosure: Held
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