Prepare for "oppression of minorities".Section 4.3 of the SPA covenants STAM/Sandon and associates not to purchase or otherwise deal in APW shares for 5 years. I.e. their combined blocking stake is now in the hands of Wang friendlies and the implication is not to expect a bid will be forthcoming anytime soon.
To add a bit of insult to injury, the broker (App Securities) is also a related party of Wang.
EssentiallyEssentially they've paid a low price to get rid of agitation risk and further cement excess control. If I were on the Takeovers Panel, my eyebrow would be raised to hairline level.
Ann: Change in substantial holding, page-3
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Last
$1.60 |
Change
0.020(1.27%) |
Mkt cap ! $71.23M | |||
| Open | High | Low | Value | Volume |
| $1.60 | $1.60 | $1.60 | $34.88K | 21.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1349 | $1.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.60 | 10000 | 1 |
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| Last trade - 13.04pm 28/06/2024 (20 minute delay) ? |
| APW (ASX) Chart |