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2.7¢ diatreme resources limited

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Hutcho8

56 Posts.

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22/05/24

08:28

Post #: 73945683
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Originally posted by Jonkb: ↑

Okay here goes

At the moment controls 56% of the shares of MLM.

It has full control - just needs to call a shareholders' meeting.

It can replace the board in its entirety and DRX can consolidate MLM into its own financial statmenets.

However, it has to keep both Companies separate, inclduing bank accounts etc and still has to publish MLM financial statements.

The only way to move to full control is to put another offer out (at the same price) and then then need to get 75% of the shares they do not own and they can apply to the court for a "scheme of arrangement" and force the remaining shareholders to accept. They cannot vote the shares they own in MLM so they would need 75% of the 44% they do not own

they also can have an on market offer and try get to 90% and then they can compulsory acquire the remaining 10%

in my humble opinion, it is futile for the remaing shareholders at MLM to hold out. there is no mileage in it for them,

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I am a very small holder of both DRX and MLM and I am for the takeover....I think it is beneficial

DRX Price at posting: 1.9¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 2.7¢		Change 0.003(12.5%)		Mkt cap ! $125.8M

Open	High	Low	Value	Volume
2.4¢	2.8¢	2.4¢	$131.9K	5.182M

Buyers (Bids)

No.	Vol.	Price($)
1	300000	2.7¢

Sellers (Offers)

Price($)	Vol.	No.
2.8¢	2157080	6

View Market Depth

No.	Vol.	Price($)
1	300000	0.027
2	206599	0.026
2	618422	0.025
1	20129	0.024
3	930878	0.023

Price($)	Vol.	No.
0.028	2157080	6
0.030	853766	5
0.031	250000	2
0.033	149456	2
0.037	86088	1

Last trade - 15.47pm 16/07/2024 (20 minute delay)

DRX (ASX) Chart