well, first of all, there will be lodgement of a 'becoming substantial shareholder' notice, in case of a serious accumulation.
second of all, Australian takeover law states the 20% rule, which a person cannot acquire voting securities if that acquisition would result in that person's, or any other person's, voting power in the company or managed investment scheme exceeding 20, .unless the acquisition is through one of the exceptions. The three most common exceptions to the 20% rule that are relied on by persons who want to acquire control of a company or managed investment scheme arean on-market takeover bid;an off-market takeover bid; anda scheme of arrangement.
Just because the company has an indicative market cap of 120m, doesn't mean you can buy it at that valuation without moving the price upwards.
LBY Price at posting:
47.5¢ Sentiment: None Disclosure: Not Held
