It stops somebody getting 51% and then controlling the company. I have seen it happen where the company didn't have the protection and all the directors were moved on and then the acquirers threatened to delist the company and succeeded in a total takeover a lot easier.
Maybe other reasons but it is protecting shareholders.
I think there has to be a shareholder vote to change control of the company if it happens and the vote has to be 70 or 80% for it to succeed.
Ann: Notice of AGM/Proxy Form/Online Meeting Guide, page-12
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Last
54.0¢ |
Change
0.020(3.85%) |
Mkt cap ! $97.92M | |||
| Open | High | Low | Value | Volume |
| 52.5¢ | 54.0¢ | 52.5¢ | $15.47K | 29.01K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 13968 | 53.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 54.0¢ | 4390 | 3 |
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| Last trade - 10.42am 27/06/2025 (20 minute delay) ? |
| ASM (ASX) Chart |