Ann: Quarterly Activities Report and Appendix 5B, page-302

Where offers have been made under a proportional off-market bid in respect of a class of securities in a company, the registration of a transfer giving effect to a contract resulting from the acceptance of an offer made under such a proportional off- market bid is prohibited unless and until a Resolution to approve the proportional off-market bid is passed.

Reasons for proportional takeover provisions

A proportional takeover bid may result in control of the Company changing without Shareholders having the opportunity to dispose of all their Shares. By making a partial bid, a bidder can obtain practical control of the Company by acquiring less than a majority interest. Shareholders are exposed to the risk of being left as a minority in the Company and the risk of the bidder being able to acquire control of the Company without payment of an adequate control premium. These amended provisions allow Shareholders to decide whether a proportional takeover bid is acceptable in principle, and assist in ensuring that any partial bid is appropriately priced.


Another Red flag that has been ignored while waiting for good news or significantly positive news @chuk

If MNB run out of Money for running costs etc

If MNB is unable to raise capital and loans are not approved

Are they protecting themselves against Angolan Govt takeover at fire sale prices ????

SWF are only ones who have paid for construction and are asked to guarantee BAI loan

How long can MNB remain listed if loans don't eventuate ???
How long can MNB survive without raising capital for running costs ahead ???



imo