Assuming MCT has 30% NME must now provide a report from an independent expert stating whether or not the takeover offers is fair and reasonable and giving the reasons for forming that opinion. Can an independent expert make that call without the material resource estimate that NME say is lacking?
That will be interesting.
If the independent expert agrees with NME on that point the TO is unlikely to be successful.
Interesting weeks ahead.
Ann: NME - Change in substantial holding for NME, page-45
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