A11 0.00% 23.5¢ atlantic lithium limited

Ann: Change of Director's Interest Notice - A Harsas, page-24

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  1. 3,034 Posts.
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    I'm getting confused and was trying to make sense of it by considering the UK code. Thank you for the clarification.

    There are exemptions that allow a company to increase its holding in an Australian company without trigging a compulsory takeover offer. Section 611 of the Corporations Act 2001 covers those exemptions. One of them is 3% acquisition every 6 months.

    Assore just bough 3.9% of Atlantic and was already past the 19% takeover threshold. This is beyond that 3% threshold so is not exempt from triggering a S606 compulsory offer. None of the other exemptions appear to be in play.

    How do you legally acquire 3.9% and not trigger a takeover given Assore's starting position is from >19% of the company?


    https://hotcopper.com.au/data/attachments/5901/5901422-cd4f61ec4aa633314a8ca2916df99d7a.jpg
    https://hotcopper.com.au/data/attachments/5901/5901425-aaa753c0d998d9fc05694cec6c3407d8.jpg
    https://hotcopper.com.au/data/attachments/5901/5901406-9ba75adc071645cd63f77a9abc4ed1df.jpg
    https://hotcopper.com.au/data/attachments/5901/5901400-f08bcedc9ada71d35caeca57ea782a0d.jpg
    Last edited by WhatsTheTip: 22/01/24
 
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