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Ann: Becoming a substantial holder from MIN, page-60

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Names little

19,352 Posts.

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15/04/23

17:37

Post #: 67292652
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Originally posted by SpikeCanonBooks: ↑

Hi Names

Based only on the screenshot you attached, it appears what you suggested could theoretically be an option for MIN.

However, practically MIN isn't going to delay their offer for months and risk IGO's scheme passing or IGO raising their bid or any number of other things happening, only to save themselves $1.36m. They pay the person that does Chris Ellison's gardening more than that.

In my experience break fees don't have any impact on companies' decisions in the course of a bid, they are just for a bidder to recoup some legal/advisory costs if a bid is unsuccessful for whatever reason.

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Hi Spike, the second court date is scheduled as 24th April based on Quarterly report so wouldn’t be a big delay. I guess there is a risk that scheme may get voted yes, but must be quite minimal with MIN holding nearly 20% and trading at over 50c. But as you say , perhaps they wouldn’t risk it.

Anyway, interesting to see how it all plays out.

ESS Price at posting: 58.0¢ Sentiment: None Disclosure: Held
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Ann: Becoming a substantial holder from MIN, page-60

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