about to break , page-31

Satori......


Acquisition thresholds


5%... Must notify target and Australian Securities and Investments Commission
(ASIC) of the shareholding and any subsequent changes of 1% or more.


15%... Foreign Investment Review Board (FIRB) approval may be required if a
foreign entity acquires 15%.

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20%... Unconditional offer is required for a listed company or an unlisted company
with 50 or more shareholders, where a shareholder reaches 20% or where
the holding is increased between 20% and 90% (subject to the exemptions
in section 611 of the Corporations Act 2001).

Creep Rule.... no requirement for an unconditional offer to be made if the
holding of a shareholder with more than 19% increases by less than 3%
every 6 months.

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90%... Compulsory acquisition of minority shareholders possible under sections 661/664 Corporations Act 2001.


http://www.swaab.com.au/publications/Introduction%20to%20Public%20Company%20Acquisitions%20-%202008.pdf



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