Share
1,590 Posts.
lightbulb Created with Sketch. 67
clock Created with Sketch. 30/06/18
11:32
Share
Originally posted by bargiee
↑
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.
Expand
https://hotcopper.com.au/attachments/upload_2018-6-22_7-21-51-png.1159134/
