FAR

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Tony999

6,090 Posts.

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07/01/16

10:49

Post #: 16746368
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Originally posted by hotkiwipav ↑

Tony you need to refer to Resolution 9 which was passed at the May 2015 GM, this resolution allowed that the proportional takeover provision in rule 8.13 of the Company’s Constitution be renewed for a period of three years, this rule allows shareholders to block any TO as explained in the brief issued prior to the meeting:

'Rule 8.13 of the Company’s Constitution contains a proportional takeover approval provision (providing that if an offer is received for a specified proportion of the Company’s shares, a shareholders’ meeting must approve the takeover bid before it may take effect). If that approval is obtained, the offer may proceed. If the approval is not obtained, the offer will be taken to have been withdrawn. The provisions do not apply to an offer under a takeover bid for all of the Company’s shares'

'The main advantage of a proportional takeover approval provision is that shareholders have an opportunity to study a proportional takeover bid proposal and, if they believe that control should not be permitted to pass under the bid, vote on the proportional takeover to prevent it from proceeding. In other words, this enables the views of shareholders to be formally ascertained. It may assist shareholders in avoiding being locked into a relatively powerless minority position, and increase shareholders’ bargaining power to require that a full bid, rather than partial bid, be made. It may also assist in ensuring that any proportional bid is adequately priced and is structured so as to be attractive to a majority of shareholders. By determining the views of a majority of shareholders, it assists each individual shareholder in assessing the likely outcome of a proportional takeover bid and whether to approve or reject that offer. The consequence of this is that all shareholders can avoid the risk of being a minority shareholder in a company controlled by a single dominant shareholder. Many listed companies have a proportional takeover approval provision in their Constitution as it allows shareholders to determine whether a proportional takeover bid should proceed.'

The above was passed so that the action that you are referring to would be far more difficult to proceed!!!

HKP

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HKP
It doesn't matter much when a T/O is launched.
All those rules and regulations go out the window.

The law says we are not allowed to speed but everyone does.

If a decent bid materialises then investors will vote accordingly.

At the moment half the forum would take 10c.

FAR Price at posting: 7.1¢ Sentiment: Buy Disclosure: Held
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Last 51.0¢		Change 0.015(3.03%)		Mkt cap ! $47.12M

Open	High	Low	Value	Volume
50.0¢	51.0¢	50.0¢	$51.68K	102.5K

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No.	Vol.	Price($)
1	75177	50.5¢

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Price($)	Vol.	No.
51.0¢	187769	3

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No.	Vol.	Price($)
1	75177	0.505
1	62764	0.500
4	219438	0.495
1	99999	0.490
2	104597	0.485

Price($)	Vol.	No.
0.510	187769	3
0.515	103300	2
0.520	335203	4
0.525	100000	1
0.530	20000	1

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Here is the clue, page-31

Helix investor makes partial takeover bid, proposing board changes

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

EBR reaches review milestone for wireless cardiac pacing device

Lendlease sells off US east coast construction operations in latest global divestment push

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

Results wrap: Austal, TPG Telecom and Downer

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

Here is the clue, page-31

Top Stories

Helix investor makes partial takeover bid, proposing board changes

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

EBR reaches review milestone for wireless cardiac pacing device

Lendlease sells off US east coast construction operations in latest global divestment push

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

Results wrap: Austal, TPG Telecom and Downer

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News