Hmmm, interesting turn of events.
I am not suggesting anything untoward, however the question must be asked why they would even attempt this unless they were sure of the outcome.
Obviously the only way they would be sure is if OCJ agreed to the de list - TIO & OCJ would hold sufficient to pass 75% needed for a special resolution.
I am in no way suggesting any deals have been done, however once Company is de listed any shares held can only then be sold by private transaction. Thinking out loud at possibilities, perhaps a deal could have been done with a major holder for a certain price after the de list??
Just looking at possibilities, however I will say we have never known OCJ's intentions and on market buying of them was interesting recently - I posted at the time could not understand why they didn't submit a change of substantial holder notice!!
If they are sure of getting the 75% I am not sure where that leaves minority holders and hopefully we have that promised protection of the regulatory bodies
Obviously they are now throwing out the capital needed now..... how many times have we supposed to have done a BFS - this time $40 - $50m
