At 20% a holder has to notify the ASX about the intention just to be a holder or to plan a t/o.
The last AGM has shown that someone already owns about 20% or more but spread over many accounts.
That way Axel Hoos got voted off the board and showed their hands for the first time. Going a bit further, a t/o announcement could come out at any time.
The board got combined enough shares to avoid a compulsory acquisition - if they are opposed to a sale - but can't stop them from taking over the majority of shares. Later on, the new board could vote existing board members off and the new ones would agree to a complete sale.
Exciting times ahead. Back to 40c, big guys achieved their goal.
IMU Price at posting:
40.5¢ Sentiment: Buy Disclosure: Held
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