A11 2.00% 25.5¢ atlantic lithium limited

Ann: Change of Director's Interest Notice - A Harsas, page-24

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  1. 2,971 Posts.
    lightbulb Created with Sketch. 6549
    I'm getting confused and was trying to make sense of it by considering the UK code. Thank you for the clarification.

    There are exemptions that allow a company to increase its holding in an Australian company without trigging a compulsory takeover offer. Section 611 of the Corporations Act 2001 covers those exemptions. One of them is 3% acquisition every 6 months.

    Assore just bough 3.9% of Atlantic and was already past the 19% takeover threshold. This is beyond that 3% threshold so is not exempt from triggering a S606 compulsory offer. None of the other exemptions appear to be in play.

    How do you legally acquire 3.9% and not trigger a takeover given Assore's starting position is from >19% of the company?


    https://hotcopper.com.au/data/attachments/5901/5901422-cd4f61ec4aa633314a8ca2916df99d7a.jpg
    https://hotcopper.com.au/data/attachments/5901/5901425-aaa753c0d998d9fc05694cec6c3407d8.jpg
    https://hotcopper.com.au/data/attachments/5901/5901406-9ba75adc071645cd63f77a9abc4ed1df.jpg
    https://hotcopper.com.au/data/attachments/5901/5901400-f08bcedc9ada71d35caeca57ea782a0d.jpg
    Last edited by WhatsTheTip: 22/01/24
 
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