The only reason why I don’t think they will have to do a takeover offer is due to the exemptions below:
”There are other exceptions to the 20% rule, including target securityholder approval, 'creeping' acquisitions of no more than 3% voting power in a six month period, and acquisitions as a result of rights issues or underwriting arrangements. However, those methods are less effective in reaching 100% ownership.”
mainly thr point about acquisition in the in the result of a rights issue or underwritten arrangements.
Ann: Appendix 3B, page-18
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