AGO 0.00% 4.5¢ atlas iron limited

Ann: Redstone Notice Declaring Offer Free of Defeating Conditions, page-233

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    After becoming a 90% holder of shares, the person has six months to undertake a general compulsory acquisition of shares.
    The Act outlines additional requirements for general compulsory acquisitions to ensure that minority shareholders receive protection. The requirements include that the person undertaking the compulsory acquisition must:
    • offer a cash sum for the acquisition of shares unless:
      • there are differences in accrued dividends of the shares; or
      • there are differences in the amounts paid on the shares (the same amount must be paid for each security); and
    • provide to the shareholders whose shares they will acquire an independent expert report that addresses:
      • whether the cash to be paid is fair value; and
      • any information relevant to whether they should object to the acquisition.
    https://legalvision.com.au/compulsory-acquisition-of-shares/
 
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