It can't just be the highest price they've recently paid.
They would need to provide an independent expert report - from an expert chosen by ASIC - opining on whether what they intend to pay represents 'fair value'.
And, if holders of >10% of the shares they don't own object to CA, they (5GN) at their cost must then apply to court for approval of the proposed CA, and the onus of proof re proving the price is 'fair value' is on them.
So, it isn't so easy.
Much simpler to have holders' agreement.
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