DT, I've made some enquiries of ASIC, the ASA and a valuation company with respect to our next move and who pays for what but have come up with little useful information. It seems to come down to seeking legal advice.
Thanks for posting the info you have from the barrister.
It seems that since there has been a takeover bid, possibly Wah Nam will not have to pay legal costs. Somehow we'll need to confirm this. Possibly Wah Nam believe this will be a stumbling block for us.
In terms of us making an application under S661, I'm guessing the only grounds we would have for such an application is that the consideration offered by Wah Nam doesn't represent fair value. That being the case, if the application is successful, it may be that the court orders that the compulsory acquisition can proceed only if fair value (determined during the case) is paid. That is how the matter could be resolved.
I'd be interested to know how many of us are still holding and are potentially willing to make court applications contesting compulsory acquisition.
BRM Price at posting:
$2.51 Sentiment: Hold Disclosure: Held
