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4.5¢ atlas iron limited

90% is not on the cards yet, FMG must sell first, I don't know...

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Stefans

1,252 Posts.

42

05/08/18

15:25

Post #: 34730061
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Originally posted by Richie2013 ↑

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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90% is not on the cards yet, FMG must sell first, I don't know anything about it.
AGO Price at posting: 4.2¢ Sentiment: Sell Disclosure: Not Held
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