Ann: Change in substantial holding, page-12

What I understand of it is that it can stop somebody/company just getting 51% and then ransacking the company. I think shareholders have to agree at a very high rate for management to change.

I saw a small oil company get taken over and once the other company got over 50% that sacked all the management and started putting out statements that you would be better to accept the offer as shares will hardly ever trade and no guarantees on price etc.etc.

If they are stayed under the same management shareholders would have done very well as the assets were highly regarded.