If you read the acceptance form, only those on the register at the 24th of December can accept (my reading).
This would preclude MIN from converting and Gina from converting more than ~13% (her holding as of the 23rd of December).
I was surprised it was going ahead. But this 'register date' effectively protects STX from Gina and Ellison using the offer to gain a large foothold on the STX. It might even be a good thing to have Gina as a small but substantial holder.
Happy to stand corrected on my interpretation
Ann: Strike - Commencement of despatch and open of Strike Offer, page-5
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21.5¢ |
Change
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Mkt cap ! $615.0M | |||
| Open | High | Low | Value | Volume |
| 22.0¢ | 22.0¢ | 21.5¢ | $1.130M | 5.217M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 745901 | 21.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 1123287 | 15 |
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