What is this about delisting....according to ASX Guideline 33,...

First 4 Last

Share
Profile

Follow
Sceptic111

216 Posts.

60

09/06/18

11:58

Post #: 33613666
Share

Originally posted by Kalenn ↑

Now none of the below may happen but as each day goes by and people see who rolls in they will be able to work it out.

The dilema for those staying on is that if OZL get over 75% they will delist AVB. I expect to see Glencore and Greenstone declare next week and the opportunity funds will appear on AVB register by mid-week (unless offer extended perhaps).

After the offer closes there will be zero liquidity if OZL get above 75%.

There will be no borrowings to build Centro/PB etc as OZL will want to legally dilute until they get above 90%. Therefore they will cap raise. They have heaps of spare cash to spend. They will probably have to offer cap raising participation to retail holders (otherwise minority share holding rules can be brought into play). But that means anyone hanging on would need to be prepared to roll the dice for at least 2 to 3 years IMO, even though a quick cap raise could see OZL at 90% plus followed by compulsory acquisition.

OZL % will creep (or bolt) up the register with each funding event. They might come back after 6 months with a better second offer but they might not or it might be at same price or lower?

OZL are in a position to raise their way to 90% and compulsory acquisition within a very short time frame. The question then becomes what valuation would be placed on AVB. If anyone wants to try a valuation exercise that accounts for dilution/increased capital base (could they do a raise at 7c? last share price prior to TO offer?) that might help people work it all out.

Now none of the above may happen but as each day goes by and people see who rolls in they will be able to work it out.

PS If you are angry and they have broken the law sue them. Don't let your emotions rule your investment decision IMO.

Expand

What is this about delisting....according to ASX Guideline 33, as long as there are over 150 shareholders each with holdings of at least $500, they CANNOT delist within 12 months of the takeover without a shareholder vote (with their shares excluded from the vote).

AVB Price at posting: 17.8¢ Sentiment: Hold Disclosure: Held
19 Upvote

2 Great analysis

Reply

Top Stories

Thursday's HotCopper trends: Vault Q4 miss, Peak raise | July 3

Listen: HotCopper Wire Podcast 016 – FY25 ended up not so bad... but Trump unpause is coming

RML

Resolution looks to 'strong historical data' as Horse Heaven search begins

ASX Market Close: Local bourse dips red as CBA profit takers swoop

ASX Market Open: Oz shares dip back (very slightly) after Wed's record close | July 3

CBA

CBA down as BHP goes up – what's going on, and, will CBA stocks correct?

SFM

Why is Santa Fe Minerals up 370% on Thursday?

Trump chides Powell as Goldman call for calm. The RBA must be nervous

GLF

Gemlife used the ASX's new IPO fast-track. Is this the start of a new cycle?

CCO

The Calmer Co FY25 revenue hits $8 million, up 86% on FY24

First 4 Last

Add to My Watchlist

What is My Watchlist?

A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.

What is this about delisting....according to ASX Guideline 33,...

Top Stories

Thursday's HotCopper trends: Vault Q4 miss, Peak raise | July 3

Listen: HotCopper Wire Podcast 016 – FY25 ended up not so bad... but Trump unpause is coming

Resolution looks to 'strong historical data' as Horse Heaven search begins

ASX Market Close: Local bourse dips red as CBA profit takers swoop

ASX Market Open: Oz shares dip back (very slightly) after Wed's record close | July 3

CBA down as BHP goes up – what's going on, and, will CBA stocks correct?

Why is Santa Fe Minerals up 370% on Thursday?

Trump chides Powell as Goldman call for calm. The RBA must be nervous

Gemlife used the ASX's new IPO fast-track. Is this the start of a new cycle?

The Calmer Co FY25 revenue hits $8 million, up 86% on FY24

Featured News