Its a scheme of arrangement,they want 100%. This will not be your usual case of buying up shares trying to get to a certain quota. The scheme has to be approved by the board and if it is then they gain total control.
Why was the price only 50cents?? Because Hanlong know exactly who the other party in negotiations is with Sundance and have already done a deal with them and before soon we will see an announcement about how the deal with the other party has now fell through and all of a sudden the 50 cent offer starts to look like it could be all thats left, thus leaving directors in a position to more than likely accept.
SDL Price at posting:
50.0¢ Sentiment: LT Buy Disclosure: Held
