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$5.28 galaxy resources limited

Ann: Galaxy takeover offer extended,GXY-GMM.AX, page-3

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yanlin

6,374 Posts.

1826

26/07/16

08:56

Post #: 18364443
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Originally posted by yanlin ↑

Now we know why the offer was extended. Fotios' shares are already included in the 74.3% level of acceptances. See extract from announcement this morning:

Since the offer opened on 28 June 2016, Galaxy has received acceptances for 72.4% of the fully paid ordinary shares in General Mining, giving it a total relevant interest (allowing for the 6 million GMM shares it already owns) of 74.3% in GMM’s shares.
The Board of General Mining continues to recommend that its shareholders ACCEPT the Galaxy Offer in the absence of a superior proposal and each of the Directors who holds or controls General Mining shares, including Executive Chairman Michael Fotios, has now accepted the offer.

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My only question to GMM is why haven't they issued a change in substantial shareholding notice with the ASX if Fotios has accepted the offer??

GXY Price at posting: 45.0¢ Sentiment: None Disclosure: Held
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