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ESS essential metals limited

0.00%

50.0¢

Ann: Essential and TLEA to enter into Scheme of Arrangement, page-35

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19,352 Posts.

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18/01/23

16:32

Post #: 65756992
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Originally posted by WhatsTheTip: ↑

The following reference comes from Allan's.com.au. If correct (and I presume it to be), if TLEA starts buying on-market at above 50c they need to start paying that price to everyone as part of the takeover offer. Given the absence of an amended bid at 51c, TLEA is the one entity that is not actually buying at 51c.

https://content.allens.com.au/the-allens-handbook-on-takeovers-in-australia/takeover-bids/
Allans about takeover bids

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Hi What’s, do those rules apply to Schemes of Arrangements or just on market/off market takeover offers?

ESS Price at posting: 51.0¢ Sentiment: Hold Disclosure: Held
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Ann: Essential and TLEA to enter into Scheme of Arrangement, page-35

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