My suspicion is that Wayne Passlow is not only trying to keep the company solvent but wanting to pick up the remaining shareholders' stock at the lowest possible price - and after the opportunity for them to sell for tax loss at the end of the year. However, IF that is what is being done, then if a shareholder has missed the opportunity to sell for a tax loss before 30 June 2002, we might just as well wait and hold out until 30 June 2003.
Question for the informed HotCopperites who know a bit of company law - can minority shareholders (Wayne P holds 55% of the company) be compulsorily bought out by him at this stage or does he need over 75% or some other figure?
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