anyone else see this little treasure on page 15?
if the shareholders vote "no" then GNX is required under this agreement to petition the court to ignore the vote and let the takeover proceed.... is this standard practice?
3.7 Scheme voted down
If the Scheme is not approved by Target Shareholders (other than Excluded Target Shareholders) at the Scheme Meeting by reason only of the non-satisfaction of the Headcount Test and Bidder considers acting reasonably that Share Splitting or some abusive or improper conduct may have caused or contributed to the Headcount Test not having been satisfied, then Target must:
(a) apply for an order of the Court contemplated by section 411(4)(a)(ii)(A) of the Corporations Act to disregard the Headcount Test and seek Court approval of the Scheme under section 411(4)(b) of the Corporations Act, notwithstanding that the Headcount Test has not been satisfied; and
(b) make such submissions to the Court and file such evidence as counsel engaged by Target to represent it in Court proceedings related to the Scheme, in consultation with Bidder, considers is reasonably desirable or required to seek to persuade the Court to exercise its discretion under section 411(4)(a)(ii)(A) of the Corporations Act by making an order to disregard the Headcount Test, and if the Court exercises such discretion or gives such approval, the Scheme Condition in clause 3.1(a) (Target Shareholder approval) is deemed to be satisfied for all purposes.
- Forums
- ASX - By Stock
- Ann: Genex enters into binding TID with J-Power
anyone else see this little treasure on page 15?if the...
- There are more pages in this discussion • 7 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add GNX (ASX) to my watchlist
(20min delay)
|
|||||
Last
26.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $367.0M |
Open | High | Low | Value | Volume |
27.0¢ | 27.0¢ | 26.5¢ | $1.537M | 5.700M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
33 | 31741663 | 26.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
27.0¢ | 15648906 | 150 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
31 | 26278770 | 0.265 |
25 | 32344152 | 0.260 |
1 | 22000 | 0.255 |
6 | 188000 | 0.250 |
1 | 5000 | 0.245 |
Price($) | Vol. | No. |
---|---|---|
0.270 | 15546405 | 148 |
0.275 | 2975245 | 38 |
0.280 | 343737 | 12 |
0.285 | 146061 | 6 |
0.290 | 32180 | 2 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
|
|||||
Last
26.8¢ |
  |
Change
0.000 ( 0.93 %) |
|||
Open | High | Low | Volume | ||
26.8¢ | 27.0¢ | 26.8¢ | 416679 | ||
Last updated 15.59pm 03/05/2024 ? |
Featured News
GNX (ASX) Chart |