LRS General Discussion, page-18877

Hi Boots. You need a 75% in favour vote for a takeover to proceed.
From the internet:
"What are the takeovers rules in Australia?To achieve 100% ownership, compulsory acquisition must be undertaken. To commence compulsory acquisition, the bidder must reach a 90% relevant interest. For the scheme to be approved, a resolution in favour must be passed at meetings of each class of target shareholders by both: 75% of the votes cast on the resolution."
I am a PLS shareholder in a big way, and I must say I feel disgusted at all the backroom deals that are being done on both sides. At PLS, our attention was diverted by the BOD floating plans for a future Pilbara expansion (P2000) which would require around $1.2B. All done, all finished, money all committed (at least proposed), and then out of nowhere comes this takeover offer for Latin Resources.
Latin shareholders will have the opportunity to reject this offer, but Pilbara retail shareholders have no say in the matter at all. Personally, I think Latin should look to do a deal with a downstream company, similar to the one Liontown recently did with LG.
Cantankerous James