Brahms,
It is legal,but they must declare any off market share parcel purchase,then if 20% threshold is reached,they can proceed with a on Market offer.and repeat if they want.
Cue energy was effectively 49% controlling interest captured by NZOG a couple of years ago by this method,NZOG then replaced the board with it's own personal.
kimbo45
Ann: Change in substantial holding, page-45
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