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53.0¢ icar asia limited

Yes, I'd expect it to be a compulsory acquisition subject to...

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TheBigM

689 Posts.

14

14/07/21

02:33

Post #: 54481421
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Originally posted by VMG70: ↑

"Carsome agreed to acquire 19.9% of Australia-listed automotive portal iCar from Catcha Group, the largest shareholder of ICar with a 30% stake. In return, Catcha will become a shareholder of six-year-old Carsome, boosting the startup’s valuation to more than $1 billion. Following the share swap, Carsome will offer to buy the remaining 80.1% in iCar from existing shareholders, a transaction valued at more than $200 million, according to a statement from the company on Tuesday.";'

SO iCar shareholders have to approve this takeover, well I am sure that the major shareholders / stakeholders Carsome and Catcha Group will approve it and what we smaller shareholders think of the deal will be irrelevant .. can we be forced to sell our shares to Carsome? Somehow the idea of it doesn't appeal to me but if i have no say in it, well I will be making a good profit and taking profits is the name of the game

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Yes, I'd expect it to be a compulsory acquisition subject to shareholder approval.

So once majority of shareholders vote yes, as expected, your shares will be automatically be purchased, cash sent to your bank account, and the company delisted as it becomes part of the new entity.

ICQ Price at posting: 48.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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