Thanks again for all you hard work William.
I can only infer that RG did not reach 90% on Friday or he would have been boasting about it by now. The deadlines for substantial shareholder notice in s 671B (6) are a bit unclear. IF he reached 88.86% or more he must lodge by 930 on Wednesday, but it’s unclear whether the tighter deadline of 930 on Tuesday applies, given the way ss(b)(ii) is worded. At the latest we will know at 930 on Wednesday if RG lodges a sub sh notice. If he does not lodge one, he can’t have reached 88.86% and therefore can’t proceed to compulsory acquisition. He isn’t obliged to lodge the next 3Y until Monday 17th, when he must tell ASX exactly what he had at the close of bid.
I can’t find anything in the corps act or ASIC Regulatory Guides on takeovers,notices etc that says if he must lodge a notice with the ASX immediately thebid finishes: we may be left hanging for a few days. I think it’s fair to assume that he failed though.
