It stops somebody getting 51% and then controlling the company. I have seen it happen where the company didn't have the protection and all the directors were moved on and then the acquirers threatened to delist the company and succeeded in a total takeover a lot easier.
Maybe other reasons but it is protecting shareholders.
I think there has to be a shareholder vote to change control of the company if it happens and the vote has to be 70 or 80% for it to succeed.
Ann: Notice of AGM/Proxy Form/Online Meeting Guide, page-12
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Last
72.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $145.6M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1388 | 72.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 72.0¢ | 12801 | 1 |
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