3.5 Other Risks As noted in section 4.2 below, the Todd...

3.5 Other Risks As noted in section 4.2 below, the Todd Corporation Group (including TIO) has a relevant interest in 55.29% of Flinders’ Shares. As such, Flinders’ shareholders other than TIO are minority shareholders in Flinders. An 16 implication of remaining a minority shareholder is that TIO will be in a position to cast the majority of votes at a general meeting of Flinders (subject to any resolution which requires a voting exclusion applicable to TIO). This will enable TIO to control the composition of the Flinders’ Board and senior management, determine Flinders’ dividend policy and control the strategic direction of the business of Flinders and its subsidiaries. TIO has made a number of statements in the Original Bidder’s Statement regarding its intentions on acquiring 50.01% or more but less than 90% of all Flinders’ Shares, including that it may seek to remove Flinders’ listing on the ASX. If Flinders is delisted, it will result in Flinders’ shareholders holding shares in an unlisted company for which there may not be a liquid market.
Can anyone clarify what is being inferred from this? I have held fms since the fds days and like other 'minority' SH's have bottom drawed my holding rather than give it away for a pittance to toad, when all the letters were turning up weekly saying get out now best price you'll ever get I thought something isn't right if they are so hell bent on getting my meagre holding, but I thought they needed >90% for a hostile take over? or can the board de-list us with less than 90% ? at above another percentage 75% ? are they able to put it to a vote and then they would have the numbers to get it up? any light shed on this would be greatly appreciated.