Perhaps this may help.. The last clause seems to be applicable for ATV & AU mining in light of the 6 month period referred to be Touquoy.
Sourced from:
www.ibanet.org/Document/Default.aspx?DocumentUid=829DE877
The level of control selected under Australian law as the trigger for the takeover
legislation is 20% of voting power in a company or MIS.
The key provision is section 606 of the Corporations Act. This section prohibits an
acquisition of shares in a company if, after the acquisition:
1630039_1_takeovers guide - australia final page | 2
any person’s voting power in the company would increase beyond the 20%
threshold; or
any person’s voting power in a company that is above 20% and below 90%
increases.
The takeover rules do not apply where voting power remains below the 20% level after an
acquisition, although other rules, such as those requiring declaration of substantial
shareholdings (which exceed 5%), are relevant.
There are a number of important gateways which allow a person to exceed the 20% level.
Permitted gateways include:
an off-market takeover bid made to all shareholders which may be for all or a
nominated proportion of their shareholding;
an unconditional on-market takeover bid on the ASX;
“creeping” acquisitions of not more than 3% of voting shares in every six months,
by a person already holding at least 19% of voting power in the company;
So this indeed may well be why we have seen a lull in activity in recent months from AU Mining at least.
- Forums
- ASX - By Stock
- cap raising anyone?
Perhaps this may help.. The last clause seems to be applicable...
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add ATV (ASX) to my watchlist
(20min delay)
|
|||||
Last
5.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $15.89M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 121739 | 4.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.1¢ | 149486 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 121739 | 0.046 |
4 | 277200 | 0.045 |
1 | 950000 | 0.044 |
1 | 25000 | 0.042 |
1 | 85000 | 0.041 |
Price($) | Vol. | No. |
---|---|---|
0.051 | 149486 | 1 |
0.052 | 131026 | 1 |
0.055 | 189312 | 1 |
0.063 | 100000 | 1 |
0.069 | 200000 | 1 |
Last trade - 10.00am 08/07/2024 (20 minute delay) ? |
Featured News
ATV (ASX) Chart |
Day chart unavailable