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Ann: Becoming a substantial holder from MIN, page-39

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19,351 Posts.

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15/04/23

11:41

Post #: 67289865
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Originally posted by w27: ↑

Part of what I was trying to say is that while there are regulations making it unlawful to acquire more than 20% of the shares in a listed company unless such acquisition is followed by a takeover offer, people can and often do exceed the 20% without making a takeover offer. In such circumstances, ASIC will become involved and if no takeover offer is forthcoming will normally require the party owning more than 20% to sell the excess shares in short time. People can, and often do that which is prohibited by regulation.

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Hi W27, my first post you responded to was badly worded, so I have asked for it to be removed.

Anyway, my understanding is they can’t legally buy above 20% until after they have made a takeover offer, I don’t think a company like MIN is going to breach it. Pretty sure they will know exactly how many shares they can buy to get to 20%.

Anyway, we wait and see what next week brings.Just a current blocking stake or are they going to move straight away to T/O?

ESS Price at posting: 58.0¢ Sentiment: None Disclosure: Held
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Ann: Becoming a substantial holder from MIN, page-39

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