I'm getting confused and was trying to make sense of it by considering the UK code. Thank you for the clarification.
There are exemptions that allow a company to increase its holding in an Australian company without trigging a compulsory takeover offer. Section 611 of the Corporations Act 2001 covers those exemptions. One of them is 3% acquisition every 6 months.
Assore just bough 3.9% of Atlantic and was already past the 19% takeover threshold. This is beyond that 3% threshold so is not exempt from triggering a S606 compulsory offer. None of the other exemptions appear to be in play.
How do you legally acquire 3.9% and not trigger a takeover given Assore's starting position is from >19% of the company?
I'm getting confused and was trying to make sense of it by...
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
Last
18.5¢ |
Change
0.050(37.0%) |
Mkt cap ! $128.2M | |||
| Open | High | Low | Value | Volume |
| 16.5¢ | 18.5¢ | 16.0¢ | $75.93K | 455.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 55795 | 18.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.5¢ | 25538 | 2 |
View Market Depth
| Last trade - 16.10pm 13/06/2025 (20 minute delay) ? |
| A11 (ASX) Chart |