Wonder if Bhushan's bid is a delaying tactic ? - is the requisitioned meeting going to take place while this bid is on the table ? The bid can be extended as long as they like.
Actually I think Bhushan's bid is a positive development - shows they have faith in BWN's potential and are seeking to take advantage of the current market to increase their stake cheaply. What does Bhushan know about the latest drilling ? Glenn recently announced it was continuing. Will we get an update before their offer closes ?
Maybe too they are testing the market to see if they can flush out any other parties interested in BWN's assets.
We should know soon enough, once the market opens.
Could be a sign too that they are nervous
- about a new meeting and a vote that might change management. The only ways they can increase their stake is by making an offer for the whole company, and by the 3% creep provisions. Next month they will be able to convert some of their options to take up a further 3% of BWN
- about the market becoming conscious of the uranium exploration tenements that BWN holds - uranium stocks have been warming up of late.
I have never seen a number for the votes that were disqualified at the last meeting - how about telling us Tarecq ? Would be one indication of the strength of Bhushan's opposition.
If the options replacement resolution gets over the line next time around this will potentially dilute Bhushan.
Don't see anything illegal with Merchant being on the Bhushan Board. He is not a member of the BWN board, just the company secretary. Bhushan Australia as far as I am aware is a private company, so I don't think they are obliged to publish their board composition changes on the ASX. Until fairly recent times Stan Lechowiz was signing notices coming to BWN from Bhushan Australia so I guess Merchant has taken over from him.
I am very curious about the forthcoming target's statement from BWN. Will the BWN board recommend acceptance ? I would expect that it will only be Sheppard and Stuart who give opinions since the other director's are Bhushan appointees and might not appear impartial ?
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Wonder if Bhushan's bid is a delaying tactic ? - is the...
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Last
57.0¢ |
Change
-0.015(2.56%) |
Mkt cap ! $156.8M |
Open | High | Low | Value | Volume |
59.0¢ | 59.0¢ | 57.0¢ | $40.07K | 69.05K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 86375 | 57.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
58.5¢ | 31746 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 86375 | 0.570 |
1 | 10000 | 0.560 |
1 | 1200 | 0.550 |
1 | 3000 | 0.540 |
1 | 24244 | 0.515 |
Price($) | Vol. | No. |
---|---|---|
0.585 | 31746 | 1 |
0.595 | 113500 | 2 |
0.610 | 3426 | 1 |
0.620 | 5000 | 1 |
0.630 | 17999 | 1 |
Last trade - 12.09pm 08/08/2025 (20 minute delay) ? |
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BWN (ASX) Chart |