re: Ann: ADE: BPT: Beach launches cash bid fo... "However it can roll the board and replace it with its own directors.
It only requires a 5% shareholding to do that, change the board and you remove any real opposition to the take over."
For the sake of clarity, (and to minimise the posts telling me I am wrong) the 5% is the statutory amount that allows a shareholder to call a meeting, any votes against the Board would still have to succeed on a majority vote basis.
Given that BPT now own at laest 51 % they would have no difficulty on rolling the board
CB
- Forums
- ASX - By Stock
- ADE
- Ann: BPT: Beach launches cash bid for Adelaide En
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ADE (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online