"An 8c takeover? I thought shareholders voted on takeovers?"
YES, absolutely. The directors are able to recommend for or against a t/o at the level offered but they cannot sell the company. In any such recommendation it is also normal to say whether the directors will be accepting the offer or not with their own shares. Nobody can 'take' your shares unless/until the t/o company reaches a 90% holding at which time they can acquire by force the remaining shares at the t/o price.
IMU Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
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