News: MLX Apac Resources Says Wishes To Be Able To Buy Metals X Shares In Potential Equity Raisings, page-74

Sadly I think you maybe right.

Its all got to do with association rules....if all 3 had an agreement to work together to gain control they would be associated and therefore would have to combine their share position.

All 3 will claim they are acting alone at this stage as there is no agreement ( the pub lunch to get everyone on the same page won't be admitted too )

The agreement will come later when all decide ( acting ALONE again of course ) to sell to Apac.

This is why Apac didn't buy the L1 holding at this stage as they would of exceeded 19.9% imo....it's a little bit early yet.

Sadly another lowball offer that will leave a lot of holders in a lost making position...me included.

We can thank the old board for burning so much money at Nifty with no result.

All imo.