With respect, my comment is exactly true. RMS cannot appropriate the cash and utilise it as they wish unless and until they get to 100% ownership.
I agree with the accounting rules re preparing consolidated accounts. I also agree with RMS gaining control at 50.1%. But unless they can move to 90% and compulsory acquisition, they are stuck. The cash stays with BRB and there are a whole bunch of Corporations Law protections to inhibit a controlling shareholder from then oppressing minorities. It gets very complicated if they bec9me marooned at 80 something % acceptance.
Given Tom Saunders stance, at the moment that is the most likely position that RMS is now facing (stuck somewhere in the 80% ownership area). They need to find a way to get him onboard.
BRB Price at posting:
37.5¢ Sentiment: Buy Disclosure: Held