Okay here goesAt the moment controls 56% of the shares of MLM.It...

Okay here goes

At the moment controls 56% of the shares of MLM.

It has full control - just needs to call a shareholders' meeting.

It can replace the board in its entirety and DRX can consolidate MLM into its own financial statmenets.

However, it has to keep both Companies separate, inclduing bank accounts etc and still has to publish MLM financial statements.

The only way to move to full control is to put another offer out (at the same price) and then then need to get 75% of the shares they do not own and they can apply to the court for a "scheme of arrangement" and force the remaining shareholders to accept. They cannot vote the shares they own in MLM so they would need 75% of the 44% they do not own

they also can have an on market offer and try get to 90% and then they can compulsory acquire the remaining 10%

in my humble opinion, it is futile for the remaing shareholders at MLM to hold out. there is no mileage in it for them,