ooraminna 2 still at 1085 m 6 july , page-100

Karl

I am not sure that it would need 90% to take over the company, I may well be wrong on what I am about to state, so please correct me if it is wrong.

Assume that you have a body of current like minded shareholders that total say 51 % of the shares.

There is no reason why they could not vote the existing board of directors out and themselves in ( or some other person) at the next annual general meeting.

Now that would then mean that the direction of the board may well take a different direction.

So now lets assume that a third party (BG for example) says to the CTP board we will give you $6.00 for each share.

Lets assume that the offer is rejected because it doesnt get the 90 % required under the constitution, that would be the end of it.

However, it may well be that various non related entities commence to buy the shares on offer and eventually get to 91% (but with say 10000 like minded shareholders)

There is no reason why BG could not appraoch each pf those shareholder off market and offer to buy their shares at a premium.

Now I stress that there are very strict ASX rules regarding take overs , so what I have just said may well be a lot of rubbish.

Comments welcome.

CB