Prepare for "oppression of minorities". Section 4.3 of the SPA...

Prepare for "oppression of minorities".

Section 4.3 of the SPA covenants STAM/Sandon and associates not to purchase or otherwise deal in APW shares for 5 years. I.e. their combined blocking stake is now in the hands of Wang friendlies and the implication is not to expect a bid will be forthcoming anytime soon.

To add a bit of insult to injury, the broker (App Securities) is also a related party of Wang.

Essentially

Essentially they've paid a low price to get rid of agitation risk and further cement excess control. If I were on the Takeovers Panel, my eyebrow would be raised to hairline level.