Termination of the Scheme means the stand still provisions likely in the documents don't apply. This would likely mean that TLEA can build a stake similar to MIN. It would make sense that MIN comes in with an offer quickly to push up the price and prevent TLEA from building a stake on the cheap. MIN has been super aggressive this time round with their 20% stake and will most likely come back with a scrip bid to mop up the remainder. Its just a matter of when and if their initial buy is anything to come by it will be soon.
The longer they wait, the more chance another party could mop up a stake similar to theirs and hamper their own efforts to consolidate the region.
ESS Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held
