Firstly, a shareholder cannot acquire more than 20% of a company without triggering a takeover:
https://content.allens.com.au/the-allens-handbook-on-takeovers-in-australia/the-20-rule/
Secondly, the PFS delay is no major surprise to me. I previously speculated that it may land early, however I made the radical move of asking the company and was told that it being announced in June was tight (a couple of months ago). I am actually delighted that RXL are exploring multiple processing options. I also believe that based on my understanding of the RXL/Hawkes Point relationship, Hawkes Point are keeping RXL honest.
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Open | High | Low | Value | Volume |
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---|---|---|
3 | 521631 | 13.0¢ |
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Price($) | Vol. | No. |
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2 | 321631 | 0.130 |
10 | 977146 | 0.125 |
7 | 1528726 | 0.120 |
3 | 67408 | 0.115 |
2 | 36699 | 0.110 |
Price($) | Vol. | No. |
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0.140 | 249694 | 3 |
0.145 | 65000 | 1 |
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