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Ann: MIN: Norwest shareholders' MinRes dividend opportunity, page-195

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SomeCents

182 Posts.

15

27/02/23

14:24

Post #: 66487631
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Originally posted by jake0002: ↑

Have a look at the date on the bottom of that ASX Guideline re the requirements for a Delisting.

Shareholders here may be interested to know, that shareholders of another ASX Listed company were faced with a similar situation where the majority shareholder, who controlled the composition of the board, tried to have our company Delisted.

Importantly shareholders who subscribed to HC ( ! ) joined together in an application to the Takeovers Panel, to seek to have the actions of the majority s/h declared as "Unacceptable Circumstances".

Not only did the minority s/h win in the T/O Panel, but ASIC got involved, and I think the Corps Act was amended, but also the ASX was forced to amend the Delisting requirements. That's why the amendment date on that Guideline being Dec 2019.

ASX and ASIC now take a different attitude to requests for Delisting. A big plus for these forums on HC!

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thanks, what company was this?

NWE Price at posting: 6.1¢ Sentiment: Buy Disclosure: Held
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