A buy out of the whole company would require 90% of votes to remove all shareholders. However, a significant commercial transaction eg the sale of a business unit, would only require 50% to approve. Happy to be corrected on the above.
Would the board gain 50% if the AP deal had gone ahead and the share price rocketed? What would PB or AP have to offer for it to attract 50% of votes? $40m, $60m, $100m, priceless?
How about now? What would we all consider a good offer for PAD? $10m, $20m, $30m. MM has already given his view that PAD is only worth a couple of million. Case in point.
It's all about CONDITIONING.
A buy out of the whole company would require 90% of votes to...
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| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 126961 | 2.0¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 2.4¢ | 28164 | 2 |
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