All good points, while I am not a fan of PEO and don't hold any shares at present, I just wanted to clear up some of your comments.
The 75% threshold for a scheme of arrangement is 75% of shareholders, not the number of shares. So, the buy back will probably reduce the number of shareholders making the 75% number easier to hit, but the 4 directors won't be able to ram it through. Also, if Crazy Johns and PEO attempt a merger, the conflicted directors (Brendan and Barry) will not be able to vote on the offer as they are directors of Crazy Johns.
In a normal takeover 90% of shares need to be in favour, which with the buyback would probably be the easiest method to use.
- Forums
- ASX - By Stock
- on market buyback
PEO
people telecom limited
All good points, while I am not a fan of PEO and don't hold any...
-
-
- There are more pages in this discussion • 18 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PEO (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, Managing Director & CEO
Charles Armstrong
Managing Director & CEO
SPONSORED BY The Market Online