and they also risk their job.

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01/06/23

09:59

Post #: 68072525
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Originally posted by Patron: ↑

I get the impression this disclosure really just reflects the board's heightened sense of their disclosure obligations, its like they sense this GMD-SLR saga could all end up in court.

This whole saga probably should be some kind of test case on where the 'fiduciary duty' line is really drawn. Currently looks like its entirely up to boards to decide for themselves. what if shareholders generally expect a more consistent application of the rules, maybe as a result of this saga the regulators finally decide it needs to be very prescriptive, like maybe a greater than 5% difference on asset values between the SLR and GMD offers must be considered materially significant for the board to act on its fiduciary duty.

if SBM board still refuses to engage with SLR they risk the shareholder's vote going against the board, breach of debt covenants, maybe insolvency and so on. some of the T20 shareholders with all their significant financial resources might decide to test whether the board met its fiduciary duty in not engaging properly in price discovery for the asset.

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and they also risk their job.

SBM Price at posting: 53.5¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 29.0¢		Change -0.005(1.69%)		Mkt cap ! $314.0M

Open	High	Low	Value	Volume
30.0¢	30.0¢	28.5¢	$1.330M	4.582M

Buyers (Bids)

No.	Vol.	Price($)
33	1429189	28.5¢

Sellers (Offers)

Price($)	Vol.	No.
29.0¢	192799	16

View Market Depth

No.	Vol.	Price($)
30	1586550	0.285
25	1899254	0.280
11	806843	0.275
19	590578	0.270
5	200785	0.265

Price($)	Vol.	No.
0.290	66956	8
0.295	695611	28
0.300	658888	18
0.305	303498	15
0.310	875042	10

Last trade - 13.07pm 26/06/2025 (20 minute delay)

SBM (ASX) Chart

and they also risk their job.

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and they also risk their job.

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