Just to clarify what Ozblue is saying there are certain requirements under corporation law that shareholders are required to do. See http://download.asic.gov.au/media/1236706/rg5-published-20-december-2013.pdf for full details,
Put simply any person must advise any change in holding of 1% of more once he becomes a substantial holder of 5% . This substantial holding must include any associates with other shareholders that he may have influence over in voting.
A substantial holder cannot increase their holding above 20% accept via a takeover offer!
the prime details are as follows:
These requirements apply when the votes attached to securities, in which a person and any of their associates have a relevant interest(as a proportion of
all voting shares or interests), increase above one of the following two thresholds:
through certain transactions or in certain circumstances ( Ch 6).
- a) the 5 % substantial holding threshold—after which a person must provide substantial holding notices relating to movements above or below the threshold, and any change of 1% or more ( Pt 6 C.1) ; and
- b) the 20% takeover threshold—after which acquisitions and offers to acquire relevant interests in voting shares or interests are only permitted
Takeovers
Acquisitions of a relevant interest in voting shares or interests that increase a person’s voting power to more than 20%, or from a point above 20%, are prohibited under s606 unless they are made under a takeover bid, authorised under one of the other exceptions in s611, or the person’s voting power is already above 90%.
This prohibition also applies to:
acquiring legal or equitable interests that result in another person’s voting power increasing in the same way; and
offers or invitations that would result in a breach of s606 if accepted.
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4.4¢ |
Change
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Mkt cap ! $10.87M |
Open | High | Low | Value | Volume |
4.4¢ | 4.4¢ | 4.4¢ | $4.787K | 108.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 194992 | 4.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.4¢ | 126464 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 194992 | 0.043 |
1 | 49886 | 0.042 |
4 | 226951 | 0.041 |
6 | 246083 | 0.040 |
1 | 18000 | 0.039 |
Price($) | Vol. | No. |
---|---|---|
0.044 | 126464 | 3 |
0.045 | 151356 | 5 |
0.046 | 21739 | 1 |
0.047 | 45000 | 1 |
0.048 | 20833 | 1 |
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