Hi Everone
I have done a bit of digging around and GPG will have to a pay a "fair value" to the minority shareholders now they are going for compulsory aquisition. Under the corporations law
1. GPG have to comission an independent expects report and send a copy to the shareholders.
2. Offer fair value to the shareholders, all the remaining shareholders with be also sent a form and if they are unhappy with fair value, send back form which then goes to ASIC.
3. If more than 10% by value of the remaining shareholders object, the matter goes to court (at GPG's expense) and the court decides what "fair value" is.
One would still think that fair value would be a minimum of 70 - 80 cents per share, according to the experts report that GQH comissioned. Extra money may be able to be extracted from GPG due to the development potential of the GQH properties.
I would appreciate any feed back.
Cheers Hoisty
GQH
gosford quarry holdings limited
