Ann: Change in substantial holding, page-27

I can only state what my intentions are, it's up to you as to what steps you take.

I'm not accepting the $1 now, 35c in 4 months time offer.

The Offer closes on the 3rd of August.

If the T2 holding gets to atleast 96.41% as at the end of the Offer period, we will get $1.35 regardless. I would say it's highly unlikely they will get to that level by 3/8. They need over 6% in around a week.

If they remain between 90.1% and 96.41% T2 have stated they will look to proceed with Compulsory Acquisition. This process must be started by no later than 6 months after August 3.

It's going to be interesting to see how this plays out. My opinion is that they will look to start the process pretty quickly.
The value of Realm as a business is going up day by day, and quickly. The longer they leave it the more they are going to have to pay.
I'm expecting an increased offer (possibly before Compulsory Acquisition is attempted), to head off any possibility of T2 needing to 1) go to court, and 2) prove to the court the offer represents FAIR value (assuming 10% of the remaining shares object, which I believe is likely to happen (that's a maximum of 2.5m shares if T2 remain at around 90%)).

I have some doubts as to whether they will try a Compulsory Acquisition as they may not want another IER done. ASIC commission who does another report, and it will be a detailed one (like IER 1 in March) as opposed to the small Supplementary one (IER 2).

I don't think T2 will want to go to court, as they will lose control over what remaining shareholders are paid. It will also cost them money to go to court.

T2 have the right to not acquire our shares if they are dissatisfied with the Court ruling. Any remaining holders would become minority holders. I see the chances of this happening as close to 0%. T2 will then be forced to share the proceeds (including cash reserves) from Realm when the mine is sold. They would end up paying us multiples of what the current price is. Just look at Petercalk's GIF's, from someone on the inside.

I can't see them being successful in a delisting attempt. The ASX won't allow it from what I have read.
T2 probably don't want to have to keep producing quarterly reports to the ASX detailing, amongst other things, cash in the bank anyway.

I wouldn't take much notice of what Petercalk has to say, he works for the enemy!
His bonus is probably tied to this being wound up quickly.

Does that help?