The ASX creep rule, also known as a creeping acquisition, is an exception to the 20% rule that limits how much a person can acquire in an ASX-listed company: A shareholder with a minimum 19% stake in a company can acquire up to 3% more every six months A person who has acquired more than 20% under another exception must wait six months before using this exception The creep rule allows shares to be acquired in a number of ways, including: Buying shares on the market Participating in a new issue of shares Entering into options or other arrangements with other shareholders The creep rule can be used to acquire a controlling stake without making a formal takeover bid. This can make it difficult for the target company board to assess the acquisition and make recommendations to shareholders. Shareholders in the target company may also not have an equal opportunity to participate in the transaction.
These guys surely are getting close to be noncomplying with this rules...
On the 11/9/24 they had 26.92% Today 13/1/24 they have 30%
Am I wrong?
CUF Price at posting:
0.8¢ Sentiment: None Disclosure: Held
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