Hi Boots. You need a 75% in favour vote for a takeover to proceed.
From the internet:
"What are the takeovers rules in Australia?To achieve 100% ownership, compulsory acquisition must be undertaken. To commence compulsory acquisition, the bidder must reach a 90% relevant interest. For the scheme to be approved, a resolution in favour must be passed at meetings of each class of target shareholders by both: 75% of the votes cast on the resolution."
I am a PLS shareholder in a big way, and I must say I feel disgusted at all the backroom deals that are being done on both sides. At PLS, our attention was diverted by the BOD floating plans for a future Pilbara expansion (P2000) which would require around $1.2B. All done, all finished, money all committed (at least proposed), and then out of nowhere comes this takeover offer for Latin Resources.
Latin shareholders will have the opportunity to reject this offer, but Pilbara retail shareholders have no say in the matter at all. Personally, I think Latin should look to do a deal with a downstream company, similar to the one Liontown recently did with LG.
Cantankerous James
LRS General Discussion, page-18877
-
-
- There are more pages in this discussion • 44 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add LRS (ASX) to my watchlist
|
|||||
Last
19.5¢ |
Change
0.005(2.63%) |
Mkt cap ! $545.8M |
Open | High | Low | Value | Volume |
19.0¢ | 20.0¢ | 18.5¢ | $12.64M | 64.93M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
22 | 3801553 | 19.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
20.0¢ | 4743191 | 49 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
22 | 3801553 | 0.190 |
27 | 5058663 | 0.185 |
27 | 3943925 | 0.180 |
25 | 4321968 | 0.175 |
18 | 2551008 | 0.170 |
Price($) | Vol. | No. |
---|---|---|
0.200 | 4575445 | 46 |
0.205 | 3090735 | 29 |
0.210 | 1416333 | 24 |
0.215 | 1702664 | 9 |
0.220 | 2403858 | 20 |
Last trade - 16.10pm 21/08/2024 (20 minute delay) ? |
Featured News
LRS (ASX) Chart |