It took 18 months to work out the finer details. Do people really expect another party, even with ROFR to be able to determine what would be required to match it within 45 days. As had been noted many times in legal literature, a ROFR with a short notice period is basically worth f#! all if you can't do the required analysis within the allotted time.
A good article is attached below. It's not mining related but still gets the message across
https://commercialobserver.com/2013...-offer-and-rights-of-first-refusal-dont-work/
Ann: Update on Product Offtake-PLS.AX, page-155
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Last
$3.65 |
Change
-0.110(2.93%) |
Mkt cap ! $10.98B | |||
| Open | High | Low | Value | Volume |
| $3.76 | $3.76 | $3.65 | $50.61M | 13.71M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 431729 | $3.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.66 | 1900 | 1 |
View Market Depth
| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
$3.67 |
Change
-0.110 ( 2.09 %) |
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| Open | High | Low | Volume | ||
| $3.76 | $3.76 | $3.66 | 4146639 | ||
| Last updated 15.59pm 07/06/2024 ? | |||||
| PLS (ASX) Chart |