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09:13
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Originally posted by mattyedw
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Awareness of current acquisition proposals As at the date of these Explanatory Notes, none of the Directors are aware of any proposal for any person to acquire (or increase the extent of) a substantial interest in the Company from its current level. Advantages and disadvantages of the Proportional Bid Provisions since last renewed As there have been no takeover bids made for any of the shares in the Company since the last renewal of the Proportional Bid Provisions, there has been no application of Clause 13. It may be argued that the potential advantages and disadvantages described below have also applied for the period since adoption of Clause 13. Potential advantages and disadvantages of the proposed resolution for both directors and shareholders An advantage to the directors of renewing the Proportional Bid Provisions is that the Board will be able to assess the member’s acceptance or otherwise of a proportional takeover bid should one be made. As stated above, renewing Clause 13 provides the members with the choice of considering whether to accept a bid for what might become control of the Company without the members having the opportunity to dispose of all of their securities (rather than just some of their securities, as would be the case under a proportional takeover bid). If Clause 13 is not renewed, members will not have this opportunity.
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With almost every stock at yearly lows there would normally be a shouting for a lynch party of the directors and most would be asking to vote them out at the upcoming AGM
(20min delay)