SoAs require 75% by vote and 50% by number. So someone holding $1 has the same second limb power as a $1m holder. Back in the day we would pay people to purchase tiny holdings as a defence to the second limb (cant do this anymore). Nowdays 2nd limb a pretty major hurdle to get over when aquiring a small cap due to the quantity of retail holders that are uncontactable.
Importantly, you can't buy unmarketable parcels while under active offer.
I've done this process a dozen times as an M&A lawyer.
SoAs require 75% by vote and 50% by number. So someone holding...
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Last
68.5¢ |
Change
0.010(1.48%) |
Mkt cap ! $136.7M | |||
| Open | High | Low | Value | Volume |
| 68.0¢ | 75.0¢ | 68.0¢ | $295.4K | 419.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2999 | 68.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 70.0¢ | 11000 | 1 |
View Market Depth
| Last trade - 16.10pm 01/05/2024 (20 minute delay) ? |
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Last
69.0¢ |
Change
0.010 ( 0.19 %) |
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| Open | High | Low | Volume | ||
| 69.5¢ | 72.5¢ | 69.0¢ | 114238 | ||
| Last updated 15.51pm 01/05/2024 ? | |||||
| ARL (ASX) Chart |