Based on my research, the deal for Japanese internet advertising firm Lifull (9120 on the Tokyo Stock Exchange) to purchase the entire business of its ASX-listed peer Mitula (MUA on the Australian Securities Exchange) is still going ahead. I have been in regular contact with Mitula Chairman Simon Baker, who confirms that the deal is on track as disclosed, and that the Scheme Documentation (the legal documents that will officially call the meeting of Mitula shareholders to approve the deal – and explain it all in minute detail) is currently in the process of being approved by ASIC, the Australian regulator. As soon as the documentation is approved and released to the market, we’ll know more about the exact timetable, and procedures. But, in the meantime, given that the two companies already announced what is called a [legally] “binding implementation agreement,” we can assume that the terms are as stated in that agreement. In particular, any small shareholder with less than 20,000 shares in MUA will be able to elect a cash payment of A$0.80 per share for their MUA holding.
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Again take it for what its worth. Am just trying to put your minds at ease.
Some may have other vehicles to invest with like trusts etc. which can make more than one holding possible.
And wives etc.
Cheers
DYOR please
MUA Price at posting:
63.0¢ Sentiment: Buy Disclosure: Held
