VXL 0.00% 11.5¢ valence industries limited

Ann: Initial Director's Interest Notice, page-12

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  1. zog
    3,051 Posts.
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    Chimaera will not be able to do this without the agreement of the trade creditors (who will own about 8% - 10%) and some existing SH's (~12%). Either Chimeara will need to acquire 90% or they will need to hold an EGM and get a favorable vote to delist. The administrator went to some length to retain the listing and that is an asset. I cannot see the benefit Chimaera gets from delisting; they will have complete control with ~80% and can retain that control by purchasing their rights in any RI. Taking up any shortfall would increase their holding to 90% when they can compulsorily purchase the remaining 10% if they should so wish.
 
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Currently unlisted public company.

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