CTP 10.0% 5.5¢ central petroleum limited

CPSA Update - The Nail in the Coffin?, page-79

  1. 725 Posts.
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    If your broker advised you that a SoA cannot be altered he is wrong.

    So long as there is court consent and meetings have been adjourned to provide shareholders additional time to consider the variation, any variation can be made to the Scheme (flexibility is what provides benefit to a SoA). A quick Google search will provide credible law sources to confirm this (I used a Herbert Smith Freehills Legal Guide).

    This is of course how SoA's are administered if a rival bidder makes a play.

    I previously found a precedent where a company had done this unilaterally to get the deal across the line with shareholders but unfortunately can't locate the link now.

    The price may drop, it may go up... I think we can both agree that Macquarie/CTP both won't like it though if the Scheme fails next Monday week.
 
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