My understanding:
ORR SVM is a scheme of arrangement, same as RED SLR. It is an agreement between companies.
The 50% requirement is not 50% of shares but 50% of shareholders who vote. Also requires court approval and 75% of shares voted. The 50% rule protects small holders. Companies can't just stitch up a deal by talking to the larger holders. Schemes of arrangement also require court approval.
The 90% rule applies if a company tries to purchase all the shares in a company, by dealing directly with shareholders. In that case you vote with your feet by either agreeing to sell or not. If the would be TO reaches 90% of all shares and 75% of those shares it did not hold at the time of the offer, then compulsory acquisition can clean up the rest. 10% is enough to block that kind of TO.
My understanding:ORR SVM is a scheme of arrangement, same as RED...
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Last
42.5¢ |
Change
-0.005(1.16%) |
Mkt cap ! $1.472B | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 43.5¢ | 42.0¢ | $13.48M | 31.70M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 290926 | 42.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 42.5¢ | 48931 | 3 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
42.5¢ |
Change
-0.005 ( 0.96 %) |
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| Open | High | Low | Volume | ||
| 43.0¢ | 43.3¢ | 42.0¢ | 4377291 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| RED (ASX) Chart |