Ann: Change of substantial holding for BRB, page-11

I do certainly agree with iliquidity , the SP will also almost certainly drop and a good chance of BRB being delisted .

But this bit not correct I'm afraid .
"and any profits may retained by the RMS shareholders,"
If after development (in the far future) there are profits , then if BRB still exists as a company (big IF) , then it will have some share of those profits .
Whether or not there were divies this should reflect in SP even if delisted .
There are laws to protect minority holders - even so , not a good position to be in .

Toms 8% should be enough for the time to stop 90% ,if he fails to acccept as there are always some percentage of holders who seem to ignore whatever goes on around them or perhpas agree with Tom out of stubborness (or ignorance .)
Tom (may) be looking to do a private deal at a later stage and his position as a large holder makes this a possibility .

The other things to keep in mind are :
1. creep provision - RMS may keep acquiring shares slowly on market if they wish , but only a certain amount per year without a further offer
2. if development occurs at some stage RMS will provide the finance and BRB will either dilute down interest or sell shares to RMS (and or others) to finance their share so another chance for RMS to get over 90%
(more shares on issue mean that Toms holding reduces in percentage terms)