MINs foot on ESS throat .......And it has been so effective.......

MINs foot on ESS throat .......And it has been so effective....

"Essential’s largest shareholder, Mineral Resources Limited (ASX: MIN) (MinRes), has agreed to vote its 19.55% shareholding in Essential in favour of the Scheme in the absence of a superior proposal and subject to the Independent Expert concluding that the Scheme is in the best interests of Essential shareholders"

Now the important bit..

Develop’s second largest shareholder MinRes (12.9%) intends to take up its full entitlement and participate in the Placement contributing ~A$6.4m to the Capital Raising.

So at $3.20 Develop SP (thats what directors are selling new stock for) its equal to just under 51 cents a share for ESS.