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cgwhi1

3,503 Posts.

88

09/04/18

19:02

Post #: 32328415
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Originally posted by bri ↑

Hi All
Reply from ASX as follows simplified

"The ASX listing rules do not regulate takeovers and regrettably therefore ASX is not able to assist you with matters you have raised
Takeovers of Australian companies are regulated under chapter 6 of the Corporations Act........The 90%compulsory acquisition rule you reference is covered under chapter 6
NKP however is a Bermudan company and therefore the Corporations Act does not apply to it."

There are other remedies however and others are looking at these options. I will leave it to X to describe these options at the correct time.
I still cant understand why a foreign Exempt coy has to sign an application form stating that they agree to obey any listing rules that ASX insist on & elsewhere wording implying that they the Foreign Exempt Coy must apply in writing for permission to do this amalgamation and elsewhere that the entity has to be named, we currently know who is the eventual owner is but nowhere that I can see the identity of the amalgamator. These questions were not answered.
Look there are remedies still open to us and these will be revealed shortly { Won't say in the next 2 weeks or imminently} that would cause a big chorus of bugger off Bri

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“NKP however is a Bermudan company and therefore the Corporations Act does not apply to it."

Could you imagine BHP, or any of the major banks were listed in Bermuda.... who give a rats arse about the rest hey.... what a joke!!!

It’s not unexpected that we had to take this into our own hands...

NKP Price at posting: 7.0¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

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