I agree that it is likely the share price will remain very steady around what it is currently trading. Upon confirmation that the takeover has failed there may be some specualtive interest, but i would not expect too much.
In relation to the company being taken off the ASX i have not been able to find a comparitive company with so many shareholders being successfully removed from the ASX. The guidance note 33 (https://www.asx.com.au/documents/rules/gn33_removal_of_entities.pdf) is pretty specific in its requirements and wants to protect the minority shareholders as much as possible. Page 8 states that where the ASX is concerned that a security holder or their associates are likey to obtain some clear advantage or benefit" over minority shareholders then they may exclude that security holders votes.
I would see that ONE minor shareholder could object to the ASX under guidance note 33 stopping the removal from the asx, let along 100 or 1000.
Not sure how it will play out, but I can't see any further downside for minority shareholders from here.
PGH Price at posting:
77.0¢ Sentiment: Buy Disclosure: Held
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