The most likely outcome is:
1. Skip vote no to the SoA and therefore it fails
2. J Power increase their shareholding to above 50% pursuant to the takeover offer
3. GNX remains listed but has a reformed J Power controlled board possibly with a Skip representative
4. Overtime J Power shareholding increases through on-market purchases, agreeing a higher price with Skip, and/or underwriting future capital raises.
If J Power were happy to have Skip as a 20% shareholder, they could have invited them into the bidding vehicle and then in all likelihood the SoA would have succeeded. Maybe J Power come back for a sweetened offer for the minorities (including Skip) once they have mopped up what they can at 27 cents?
So the next few months leave shareholders with a simple choice - sell out to J Power at 27 cents or stay in for the future ride. J Power will likely try and put the frighteners up those contemplating staying in by saying they will delist, etc. but so long as Skip hangs around as a minority they will act as a safeguard to others who turn down J Power (for now).
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Ann: Genex enters into binding TID with J-Power, page-29
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Last
27.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $373.9M |
Open | High | Low | Value | Volume |
27.0¢ | 27.3¢ | 27.0¢ | $89.56K | 331.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 8221759 | 27.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
27.5¢ | 4661051 | 44 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 6721759 | 0.270 |
29 | 14220538 | 0.265 |
2 | 6600 | 0.260 |
1 | 40000 | 0.255 |
1 | 10000 | 0.250 |
Price($) | Vol. | No. |
---|---|---|
0.275 | 4438551 | 41 |
0.280 | 2084088 | 11 |
0.285 | 89065 | 3 |
0.290 | 31940 | 4 |
0.295 | 124962 | 2 |
Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
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