No legal problem with tax in paying with shares, the sale is a capital transaction on both sides. The shares have a market value which will be the consideration the Italians receive for CGT purposes.
No mention of any legal problems just delays in getting the red tape sorted so the ownership of 50% of the JV company can be exchanged at the settlement table for shares in Vmoto.
If the issue of the shares hasn't happened before the AGM the share holders can't vote to add them back into the number of shares that the board can issue without shareholder approval.
Important to realise the vote has naught to do with approving the transaction its simply about how many shares the board can issue without shareholder approval going forward.
Ann: Withdrawal of AGM Resolutions, page-5
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Last
12.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $50.18M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 188618 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 17932 | 1 |
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