Is the 'scale back' of the unlisted entity alternative (given Tartak's and Malouf's extensive percentage BIN holdings, and their intention to take up this not the cash offer) a concern?
I would like to avoid the cash offer of A$3.45 as much as possible as I perceive that this sector will grow over time, and would like to hold a tiny part of that growth opportunity, rather than being 'scaled back'.
Nonetheless, it's a win either way, so great. Never look a gift horse...
If BINGO shareholders holding, in aggregate, more than 40% of the total issued capital of BINGO elect to receive the Mixed Cash and Unlisted Scrip Alternative, ascale back mechanism will apply on a pro rata basis and the relevant BINGO shareholders will receive the Cash Consideration for the remainder of their shares.
