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
I have properly researched and I stand by my previous comments...
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Last
66.5¢ |
Change
-0.020(2.92%) |
Mkt cap ! $116.5M | |||
| Open | High | Low | Value | Volume |
| 68.0¢ | 68.0¢ | 65.0¢ | $11.13K | 16.77K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4054 | 66.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 68.0¢ | 8476 | 1 |
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| PLT (ASX) Chart |