Takeover Legislation. It is an "Unacceptable Circumstance" if, after making a no increase statement (which is what Genesis have done with its "best and final" statement), announces another bid (or a scheme) within 4 months after the bid closes and offers increased consideration.
The 4 months starts from when Genesis close their bid - not sure why Genesis keeps extending it. It's clear it's stalled.
If Genesis does increase within 4 months after they close their bid, then a shareholder (or ASIC) can ask them to pay that increase to all Dacian shareholders who've already accepted.
Otherwise, if it waits the 4 months, it can just pay the increase to those remaining shareholders (i.e. ~24% of register).
DCN Price at posting:
12.0¢ Sentiment: Sell Disclosure: Not Held
