Assuming all options are exercised, if 34m shares reject the offer, RMS are stuck below compulsory acquisition (90%) threshold. Per these notices, Tom speaks for almost 27.9m shares meaning that if only a bit over 6m other shares also say no, RMS cannot go to 100% and access the cash.
Tom would seem to have the whip hand to force a higher outcome.
As someone has already said, time to get out the popcorn.
BRB Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held
