KFE, page-15

A takeover offer will be presented to the company, which the Board of Directors will then present to us shareholders with a recommendation to either accept or decline. You do not have to accept the recommendation.

It will then go to a shareholder vote.

If 90% of the shareholders (voted by shares, it could be 1 person if they hold 90% of all company shares), if 90% of shares vote in favour of the takeover then the remaining 10% will be ignored and the takeover will be approved at whatever price was presented to the shareholders.

We are talking about a takeover offer, it isn't exactly forced, they have to make 90% of the shareholders happy with the offer first (or, enough shareholder votes to make up 90% of the shares voting in favour).

If 90% or more vote in favour, you have no choice, your shares will be sold in the takeover and you will get the cash price.

If less than 90% vote in favour then the takeover is stopped.

I believe it is 90% for the limit.

See more here:

http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=panel_process/summary_of_takeover_provisions_in_australia.htm