PRT have no need to make a takeover offer
They have no obligation to do so as any issue of shares under a rights issue does not "invoke" the takeover requirement
So, at 40% they can do a "Stokes" - buy 3% per year, do a sharebuyback with profits (as it benefits all shareholders they can vote on it without conflict), and take ownership at their own leisure - noting that at 40% they can vote whoever they want on and off the board........
So, they have control very shortly, without the premium of a formal takeover bid
PRT have no need to make a takeover offerThey have no obligation...
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Last
9.1¢ |
Change
-0.002(2.15%) |
Mkt cap ! $5.453M | |||
| Open | High | Low | Value | Volume |
| 9.4¢ | 9.4¢ | 9.1¢ | $10.76K | 117.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 27874 | 9.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.0¢ | 100000 | 1 |
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| Last trade - 10.30am 01/07/2024 (20 minute delay) ? |
| DES (ASX) Chart |