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
A takeover offer will be presented to the company, which the...
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Last
3.8¢ |
Change
-0.001(2.56%) |
Mkt cap ! $136.7M | |||
| Open | High | Low | Value | Volume |
| 4.1¢ | 4.3¢ | 3.7¢ | $880.4K | 21.88M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 132962 | 3.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.9¢ | 700000 | 2 |
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| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| M4M (ASX) Chart |