Hi Georgia14, try this bad boy.
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01723454
This is the "Takeover Bid by TIO (NZ) Limited (ASX:FMS)" document dated 17/3/2016.
Please see the link above but I draw your attention to their previous takeover proposal on page 31-32 where TIO's intentions are stated. They acknowledge there would be a need for a special resolution requiring 75% of the votes to delist the company. There is also a condition stating there must be less than 150 minority shareholders with a minimum balance of $500 to allow for de-listing. (Safe to assume this is one of the main reasons for the 10% buyback announced on Thursday.)
Page 32 also mentions the "3% creep provision" rule under the Corporations Act and I do wonder how a 10% buy back gets around this legislation.
Hi Georgia14, try this bad boy....
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Last
78.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $155.8M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10040 | 80.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 85.0¢ | 20000 | 2 |
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