NZO actually have 40% as Zeta Resources hold around 13% in CUE. In my opinion, they are obviously working together on this deal.
If I were NZO, I would not extend my current bid and call an EGM to remove the CUE board. 40-45% influence should be enough as you generally only get 60-70% turn out for an EGM.
Following the removal of the CUE board, I would announce an off-market buyback at a fixed price of around 12-13c (to utilize the cash held at CUE) as this would effectively give me close to 80% once shares tendered into the buyback are cancelled.
They get the NZ and Indo assets...essentially for nothing. Too easy.
So hold on for the post deal buyback.
NZO actually have 40% as Zeta Resources hold around 13% in CUE....
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Last
10.5¢ |
Change
0.005(5.00%) |
Mkt cap ! $73.32M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 10.5¢ | 10.0¢ | $762 | 7.618K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 232237 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 155266 | 4 |
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| Last trade - 15.39pm 28/06/2024 (20 minute delay) ? |
| CUE (ASX) Chart |