Not completely clear Hoots, the wording indicates that the break fee would only be payable if one of the current directors makes a statement indicating they support an alternative bid or indicate they will no accept the RFG offer in rtespect to the own shares".
"the BIA provides for Oaks to pay a RFG break fee of $250,000 in circumstances where there is a Superior Proposal in respect of Oaks shares or where any of the Recommending Directors publicly state their support for a Superior Proposal or indicate that they will not accept the Offer in respect of their Oaks shares."
I guess the last part is possible, ie one of the directors might come out before the EGM and say "I can't accept the RFG offer because it is no longer valid". They would make the break fee payable. Note that is has to be one of the current directors, not one of the new directors post EGM.
OAK Price at posting:
52.0¢ Sentiment: Hold Disclosure: Held
