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$2.91 boart longyear group ltd

The CB allocation at 2c per share in lieu of debt was a scheme...

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ionshield

238 Posts.

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17/06/19

15:32

Post #: 39096270
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Originally posted by Risso1: ↑

Picked up this extract.

" Regulatory requirements
Takeovers in Australia are regulated by a combination of legislation, government policy and stock exchange rules. The main takeover rules are spelt out in the Corporations Act and are administered by the Australian Securities and Investments Commission. If a dispute arises, it is managed by the Takeovers Panel. There are many rules covering takeovers but let’s look at one of the main ones — the 20 per cent rule.
This states that a person cannot acquire more than 20 per cent of a company unless via a specified exception, which includes takeover bids and schemes of arrangement. So when the 20 per cent threshold is hit, the takeover machinery is triggered."

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The CB allocation at 2c per share in lieu of debt was a scheme of arrangement.

BLY Price at posting: 0.6¢ Sentiment: None Disclosure: Held
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