As far as I can find, no, AVL shareholders do not have to approve a revised offer. However, they will have to support the issuing of additional shares to cover it.
Changes in terms generally require Court approval, an adjournment of scheme meeting, and supplementary disclosures;I looked into this yesterday.
im hoping if AVL and TMT are made aware that a blocking vote will occur, that they can announce to the market in the same way they announced supports in the days following the merger announcement, and they can issue a revised offer.
which brings a question posed a few days ago - what do AVL holders value TMT at??
AVL Price at posting:
2.5¢ Sentiment: Hold Disclosure: Not Held
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