Section 5 is only relevant if shareholders wrote to the 90% shareholder, within 1 month of the offer closing (3/8), were now wanting to accept the offer.
I can't see any reason why anyone would do that.
Don't also forget there are 2 types of Compulsory Acquisition.
1) shareholding having at least 90% shareholding
Or
2) shareholding having at least 90% shareholding AND acquired at least 75% of the shares available to it under the Takeover Offer.
We are under part 1.
That notice you highlight is relevant to the 2nd type of Compulsory Acquisition.
We are not currently the subject of a Takeover Offer, so the 90% holder is free, as far as I can tell, to offer a new price.
How can a new IE determine if an Offer price is fair if they don't know what the offer price is?
I have attached part of the ASIC Form 6024 we wil be seeing when they send us the new Offer price and IER. See points 3,7 and 8.
It will be interesting to see if the updated figures are included in the new IER, or advised on this form. I don't think doing either is a feasible option that won't attract attention.
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