Thanks for the link aljscott - one of the worst examples of...

Thanks for the link aljscott - one of the worst examples of legal speak I've seen for a while but interesting info! :)

I lean to your interpretation. If correct then that would suggest that ZFX could indeed have been buying on market and would then have to raise price paid to acceptors of offer to the highest price paid for the shares on market.

Probably academic here though as it appears ZFX haven't been buying though as their statements haven't indicated increased holdings.