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Ann: Proposed Sale of Cybersecurity Business, page-81

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Dr Davros

3,841 Posts.

803

22/10/20

15:57

Post #: 48309236
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Originally posted by jonkey1995 ↑

With a buyback that is for less than 10% of the shares on issue in a 12 month period you do not need an EGM.

The one proposed is an equal access buyback of greater than 10%. Therefore, it needs to be put to an EGM. Probably the same EGM as for the sale approval. You could end up with a really concentrated ownership if the sp is low and enough people accepted the offer. You could end up with a few people owning the company and remaining cash. It could be so concentrated it may not be able to remain listed.

Cheers

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That might be Garys plan. So we better push back. All he has to do is drop a few million shares. and we'd be 5c.

VOR Price at posting: 15.0¢ Sentiment: None Disclosure: Held
4 Upvote

0 Great analysis

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