It seems a TO can only be on market or off market at any stage and can't occur at the same time.
The problem with a market bid is as follows...
So obviously would need substantial cash for an on market bid to proceed.
- "offers under a market bid must be for all the securities in the bid class, while an off-market bid may specify a proportion of the securities in the bid class to which the offer relates4"
In MCT's case would require circa $5m plus to aquire remaining shares at 3c.
It seems a TO can only be on market or off market at any stage...
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $13.45M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $19.22K | 6.407M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 47801198 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 63632747 | 57 |
View Market Depth
| Last trade - 11.06am 22/07/2024 (20 minute delay) ? |
| MCT (ASX) Chart |