"as per takeover provisions the major shareholders with more than 20% stake are not allowed to buy shares."
This is incorrect.
A shareholder holding >20% can use the creep provisions and purchase 3% of the register every 6 months without the need to make a takeover offer.
"The only option to buy for them is through open offer and a price determined thorough independent valuation.""
This is also incorrect.
A bidder can set whatever price they want. The target is required to engage an independent expert to assess whether the bid is fair and reasonable and whether it is in the best interests of shareholders. Based off the export report, Directors can still recommend bids which are "unfair but reasonable" if they feel it is in the best interests of shareholders ie IGO and WSA recently. A Bid which the Independent Expert finds is "unfair and unreasonable" will be rejected.
Sigh
"as per takeover provisions the major shareholders with more...
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Last
$6.09 |
Change
0.030(0.50%) |
Mkt cap ! $8.041B | |||
| Open | High | Low | Value | Volume |
| $6.05 | $6.12 | $5.90 | $12.70M | 2.099M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $6.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.13 | 12098 | 3 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| YAL (ASX) Chart |