This has been discussed on the BON board. It appears their primary goal is 75% as this gives them some options that they dont have if under 75%. For example at 75% it appears that they cant be blocked from delisting BON or restructuring. At least that's how it appears to be in corporate law but I am no expert.
Can they get to 75%? Well they can also apparently buy 3% every 6 months, so if they dont get to 75% then it wont be too long before they do.
Would be interesting to know how many have taken up the UCL offer instead. UCL may be diluting their shareholdings for no gain in the end which is why I'd be very surprised if there are too many BON holders taking up the UCL deal.
AEV Price at posting:
70.0¢ Sentiment: None Disclosure: Held
