Basically brother, Brab's is right.. The provision was in the old constitution which was drafted in 2018 and adopted in Jan 2019... Which means the current 3 year provision for a takeover was due to expire on the 18th of Jan 2022 anyway..
The main difference between the old provision and the new is that the new provision (clause 37) specifically calls out what happens in the event of the receipt of a proportional off-market bid for shares.
Summary of takeover provisions in Australia
"There are 2 types of takeover bids: off-market bids and market bids. The provisions dealing with the main features of the offers differ depending on the type of bid."
The term "off-Market" was never used in the existing provision and I dare say paves the way clearly & concisely for a dark horse to enter the building should they wish to do so...
And if people wish to keep handing them their shares for less than 7c why the hell wouldn't they?8tey
4DS - Anything but Charting, page-19502
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