Not sure how ASX could agree to the Waiver. Definitely questionable. Strong case for UNV to request them to reconsider and get ASIC involved. Concerns include:
1) A share price that is tanking and a market cap nearly on par with UNVs. Surely there is grounds to consider this as a reverse take-over justifying a full prospectus and shareholder vote!
2) TER's manipulation of UNV board processes through its reckless attempt to have UNV directors removed that refuse to accept the offer on the face of it. Besides, they are risking the UNV business through removal of execs that are critical to the day to day operations of the UNV mines. What about UNV shareholders' rights to protect UNV as a going concern.
3) Is the ASX happy to allow a board to run rough shot over its own shareholders and prevent them a say in a material acquisition.
Would not be surprised if ASIC is getting involved here soon.
Not sure how ASX could agree to the Waiver. Definitely...
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Last
18.5¢ |
Change
-0.005(2.63%) |
Mkt cap ! $150.1M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 19.5¢ | 18.5¢ | $79.81K | 420.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 34 | 1476245 | 18.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.0¢ | 125114 | 11 |
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| Last trade - 11.00am 29/08/2024 (20 minute delay) ? |
| TER (ASX) Chart |