Ann: Allegro's Notice of Compulsory Acquisition, page-25

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28/04/23

06:43

Post #: 67492452
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Originally posted by harrydent: ↑

There are 14 days to complain about the compulsory acquisition. Some of the reasons are:

1. Existing note/debt holders had already made commitments to Allegro to purchase their shares prior to the public offer.
2. The Payment to the debt holders included some consideration for their shareholding which was to the detriment of minority shareholders given the failure for any takeover premium which is highly unusual if all recent takeovers are considered!
3. The board made no effort to solicit a superior bid.
4. The board was aware of Allegros control of over 90% of SGH before the bid was launched
5. Oppression of the minority shareholders due to the structuring of the offer.
6. Had a lower figure been paid to purchase the debt and a higher figure for the shares only the minority shareholders of less than 10% would have beneffited due to teh cross holdings between debt and equity.
7. Rubns role on the reserve bank was a conflict of interest in getting the transaction completed so she could exit the building.

Please add to the list. Who is going to lodge the complaint?

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We have the court appeal or a CA, ASIC is a toothless tiger.
a CA is the best option if the court appeal fails. The law institute of vic is the first point of contact for minnow shareholders.
The rules to get a CA off the ground would need to.be satisfied as many here would be familiar with being Slaters shareholders.
All previous Class Actions against Slaters were settled before going to trial.

SGH Price at posting: 54.5¢ Sentiment: Buy Disclosure: Held
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