bid timetable

I have properly researched and I stand by my previous comments that PLT now appears set to BE IN BREACH OF THE CORPORATIONS ACT re the timing of the FER takeover.

See Section 631 below - the offers must be made to each shareholder within TWO MONTHS. While the other link that I have attached makes clear that the OFFERS CAN NOT BE MADE until 14 days after the Bidder's Statement has been lodged.


CORPORATIONS ACT 2001 - SECT 631
Proposing or announcing a bid

(1) A person contravenes this subsection if:

(a) either alone or with other persons, the person publicly proposes to make a takeover bid for securities in a company; and

(b) the person does not make offers for the securities under a takeover bid within 2 months after the proposal.

The terms and conditions of the bid must be the same as or not substantially less favourable than those in the public proposal.

THEN SEE ITEM 6 AT:

http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s633.html