lots of ifs once you get above 75%... they could apply to delist as long as the ASX is satisfied they have effective control... and really - who would want to be a minority holder in a non-listed company???
makes your capital potentially a lot harder to liquidate and information disclosure requirements could be drastically less.
On the positive... they are only at 20% - and cannot get higher anytime soon without a scheme or takeover offer...
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Ann: Receipt of Non-Binding Indicative Proposal, page-58
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