Nope. A takeover does not require a company to build up its stake to 20%. In fact it does not have to own any shares in the targetted company to launch a takeover. But building up a stake slowly is normal practice to average down the all-up cost of launching a bid. The share price rise may just be related to a re-rating by the market as it does seem undervalued in the context of its expected enterprise value given the exploration leases.
Ann: Becoming a substantial holder from PGM, page-14
Add NES (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.915M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1191979 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 5210368 | 6 |
View Market Depth
| Last trade - 16.12pm 03/10/2024 (20 minute delay) ? |
| NES (ASX) Chart |
Day chart unavailable