Drag rights don’t exist in public company land as far as I’m aware. Certainly it would be very unusual to have them - and would almost certainly be in conflict with the ASX governance principles. Otherwise minorities would get screwed all the time (more than they already do).
My understanding (which could be wrong - been a while between drinks so don’t take this as gospel) a shareholder we can generally only be forced to sell under compulsory acquisition provisions in the Corps Act (ie if a shareholder reaches a 90% shareholding) under a off market takeover offer or if 75% of eligible shareholders by number and value vote in favour in a court approved scheme of arrangement.
Any practicing legal eagles around that can confirm/weigh in?
IFN Price at posting:
92.0¢ Sentiment: Hold Disclosure: Held
