avq ann, page-70

Guys have been here from the onset used to post but just read with interest these day and still holding.

With regards a T/O, from what i recall from the SBL fiasco with M woods when they took the 2c offer from Lion Gold who are on the Singapore exchange.

M woods recommended holders sell out for the 2c offer a substantial amount actually took the offer.

But from memory for them to get full control and enforce a compulsory purchase of existing holders shares.

I believe from memory they had to accumulate a 90% holding in SBL, to this day they have not managed this due to some stubborn holders,

Hence SBL are still listed on the asx.

This is from memory so please do not take this as Gospel but i don't think i am far off the mark

So i would think going by the above, Drake would have to go a long way to reach this figure, but who knows in the corporate world these days, what sort of deals are done behind closed doors, never ceases to amaze me.

It does seem strange the resignation, one would think as per the forum discussion it has been done for a reason

The big QUESTION IS

WHAT IS THAT REASON.

As always i dare say that the cannon fodder will be the last to know.


Compulsory redemption of minority shareholders (squeeze-out)

This service is normally used following an acquisition in order to carry out the compulsory redemption of shares held by minority shareholders who have not accepted the offer to sell their shares to the party making the offer. In order to carry out a program of compulsory transfers, the party making the offer must have acquired at least 90% of the target company’s shares.