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09/05/16
04:39
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Originally posted by seals
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I think you've got the compulsory acquisition threshold in mind. At 90% a party can compulsorily acquire the balance of shares. OCJ can block compulsory acquisition but not a scheme of arrangement and they can't stop the company being taken private either by resolution.
≥5% (obligation to file substantial holding notice),
>10% (ability to block compulsory acquisition),
>20% (takeovers threshold),
>25% block special resolution and schemes of arrangement
50% (ability to pass ordinary resolution),
75% (ability to pass special resolution) 90% (entitlement to compulsory acquisition).
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So why did you state that OCJ did not have a blocking stake?
"I note that OCJ do not have a blocking stake. 19.9 is just a big major shareholder."
Funny bugger.