We know there is a holder owning at least 20% and could have accumulated by now to even 25%. Frustrate holders by sinking the sp and then come up with a 70c buy out offer, you can be sure many will be so frustrated atm they will be happy to sell them for 70c. If they get that way to 50% plus they got the majority of votes and that would be the end of ASX listed IMU. Over time it would be incorporated in the new owners company and the current management would be replaced unless the licencing deals with CoH are so tight in conditions that they will allow IMU to continue to operate in its current form. It is just an assumption but I have witnessed similar scenarios before ( VLA, former SMM ).
Anyway, I still benefit from the current sinking by buying more and are patient enough to wait this out but there are many who can't or won't be able to.
GLTA
IMU Price at posting:
35.5¢ Sentiment: Buy Disclosure: Held
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