Takeovers Ch 6 Acquisitions of a relevant interest in voting shares or interests that increase a person’s voting power to more than 20%, or from a point above 20%, are prohibited under s606 unless they are made under a takeover bid, authorised under one of the other exceptions in s611, or the person’s voting power is already above 90%.
This prohibition also applies to:
acquiring legal or equitable interests that result in another person’s voting power increasing in the same way; and offers or invitations that would result in a breach of s606 if accepted.
Note: See Regulatory Guide 9 Takeover bids (RG 9) and RG 6.
DUB Price at posting:
22.0¢ Sentiment: Hold Disclosure: Held
