GOR gold road resources limited

Ann: December 2022 Quarter Production Update, page-17

  1. 2,577 Posts.
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    You can go over with Creep. I can't tell you the exact numbers involved sorry spec but Creep is allowed.

    The general Idea is you can hold over 20% if you only add say 1% a quarter.....

    Edit: others have answered but here is the definition i found.

    Exceptions to the 20% rule

    The basic concepts described above effectively force someone who wants to acquire control of a company or managed investment scheme to only do so through one of a limited number of exceptions.

    Those exceptions are designed to ensure that the three main principles are followed.

    The three most common exceptions to the 20% rule that are relied on by persons who want to acquire control of a company or managed investment scheme are

    • an on-market takeover bid;
    • an off-market takeover bid; and
    • a scheme of arrangement.

    In common language, all three of these types of control transactions are described as a 'takeover'.

    There are other exceptions to the 20% rule, including target securityholder approval, 'creeping' acquisitions of no more than 3% voting power in a six month period, and acquisitions as a result of rights issues or underwriting arrangements. However, those methods are less effective in reaching 100% ownership.


    Last edited by BrucieKibbutz: 16/01/23
 
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