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Merger: Yes or No, page-910

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butcherboy

20,020 Posts.

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17/12/23

13:00

Post #: 71492568
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Originally posted by akgo01: ↑

On 13 December I wrote:

"• holders of CDIs will not be directly entitled to certain other rights conferred on holders of NewCo Shares, including the right to apply to a Bailiwick of Jersey court for an order on the grounds that the affairs of NewCo are being conducted in a manner which is unfairly prejudicial to the interests of NewCo Shareholders; and the right to apply to the Jersey Financial Services Commission (JFSC) to have an inspector appointed to investigate the affairs of NewCo.

(What??? Let me repeat it: "holders of CDIs will not be directly entitled to certain other rights conferred on holders of NewCo Shares". What certain other rights we, CD holders, won't be entitled?"

Then I speculated that holders of CDIs might not be able to participate in share purchase plan and Divedend Reinvestment Plan.

I have found out that that specualtion is wrong. CDI holders can participate in SPP and DRP, according ASX Listing Rules Guidance Note 5 CDI (amended 01/12/19). The CDIs will also have to bought just as the shares if the company is takenover.

What is not mentioned in the Guidance Note 5 CDI is what happens when the company merges with another company. This is still not clear.

And what exactly certain other rights CDI holders won't be entitled is also not clear.

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And you called me "dishonest" on this matter!

AKE Price at posting: $10.47 Sentiment: Buy Disclosure: Held
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