Section 611 of the Corporations act allows for various exemptions to the takeover provisions.
One of the exceptions is:
A Downstream acquisitions that results from acquisition of another company is exempt.
So ,company A owns shares in company B.
Company C also owns shares in company B.
Company A can buy out company C and by default will acquire more shares in company B.
This acquisition is exempt from takeover triggers.
I suppose it is designed not to disadvantage company C in the mechanics of possible takeover bids.
Section 611 of the Corporations act allows for various...
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Last
0.9¢ |
Change
-0.001(10.0%) |
Mkt cap ! $20.72M | |||
| Open | High | Low | Value | Volume |
| 1.0¢ | 1.0¢ | 0.9¢ | $7.215K | 725K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 2322189 | 0.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.0¢ | 1770711 | 2 |
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| Last trade - 15.03pm 30/06/2025 (20 minute delay) ? |
| EXT (ASX) Chart |