mrposhman .. question ?, page-8

Gordo66,

Yes they can, they can choose to waive the condition where they need 90%, but IMO if they are below 50%, its highly likely they will refuse to waive the condition and then allow the offer to lapse. If they allow it to lapse, then you get your JKA shares back, if they don't then you get your TPT shares, so the ball is totally in TPT's court here.

Even if they get say 55%, I'm not sure they would waive it, as they would have a pretty significant minority interest holder in all the other holders, which they may feel could be too much hassle and also too costly, as they will essentially be maintaining 2 companies, 2 BOD's etc.

Alternatively, if they really like the offer (I see this as next to zero possibility) they may decide to increase theri offer.

News due on Tuesday relating to TPT updating the market on what conditions have been fulfilled and which have not, and will probably provide a real indication of where the takeover / merger is going.