He sold his at 90c when the initial bid was lodged- they did an...

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Miner101

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27/06/18

19:27

Post #: 33991473
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Originally posted by Maysgr ↑

My reading of it is that there is a small difference between the 2 paragraphs.

There is a slight technical difference between "free from conditions" and "unconditional".

Everyone who has sent their signed acceptance form back have accepted the offer. They have entered a contract with the Bidder. The Bidder has not been able to pay out the holder before now as there were conditions on the bid.
By declaring those contracts "free from conditions" it means they can now claim full ownership of those shares and distribute payment to those holders (at $1 per share).

Those who haven't accepted the offer (like me) do not have a contract with the Bidder.
We are still part of the bid. The original conditions of the bid have not been fulfilled as yet.
Don't forget the Bidder gave an Undertaking to the Takeovers Panel about giving the Panel atleast 2 days notice before being able to declare the offer Unconditional.

Today was the last day they could of given notice they were going to extend the offer. It will now lapse on July 2.

It will also be interesting to see if we get a Change of Directors Interest notice for Gordon Galt in the coming days. If we do, then he has been happy to let his shares go at $1 per share.

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He sold his at 90c when the initial bid was lodged- they did an ASX release at the time.

RRP Price at posting: 8.5¢ Sentiment: Hold Disclosure: Held
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He sold his at 90c when the initial bid was lodged- they did an...

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