Just to clarify what Ozblue is saying there are certain requirements under corporation law that shareholders are required to do. See http://download.asic.gov.au/media/1236706/rg5-published-20-december-2013.pdf for full details,
Put simply any person must advise any change in holding of 1% of more once he becomes a substantial holder of 5% . This substantial holding must include any associates with other shareholders that he may have influence over in voting.
A substantial holder cannot increase their holding above 20% accept via a takeover offer!
the prime details are as follows:
These requirements apply when the votes attached to securities, in which a person and any of their associates have a relevant interest(as a proportion of
all voting shares or interests), increase above one of the following two thresholds:
through certain transactions or in certain circumstances ( Ch 6).
- a) the 5 % substantial holding threshold—after which a person must provide substantial holding notices relating to movements above or below the threshold, and any change of 1% or more ( Pt 6 C.1) ; and
- b) the 20% takeover threshold—after which acquisitions and offers to acquire relevant interests in voting shares or interests are only permitted
Takeovers
Acquisitions of a relevant interest in voting shares or interests that increase a person’s voting power to more than 20%, or from a point above 20%, are prohibited under s606 unless they are made under a takeover bid, authorised under one of the other exceptions in s611, or the person’s voting power is already above 90%.
This prohibition also applies to:
acquiring legal or equitable interests that result in another person’s voting power increasing in the same way; and
offers or invitations that would result in a breach of s606 if accepted.
AJM Chart, page-107
-
- There are more pages in this discussion • 7,178 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add 1MC (ASX) to my watchlist
(20min delay)
|
|||||
Last
3.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $8.935M |
Open | High | Low | Value | Volume |
3.3¢ | 3.3¢ | 3.3¢ | $47 | 1.429K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 206526 | 3.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.4¢ | 123310 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 206526 | 0.033 |
3 | 96607 | 0.032 |
4 | 102290 | 0.031 |
3 | 50666 | 0.030 |
1 | 19200 | 0.029 |
Price($) | Vol. | No. |
---|---|---|
0.034 | 123310 | 2 |
0.036 | 335239 | 4 |
0.037 | 70464 | 2 |
0.038 | 75000 | 1 |
0.039 | 70000 | 1 |
Last trade - 10.35am 03/09/2024 (20 minute delay) ? |
Featured News
1MC (ASX) Chart |