Mak where was this mentioned re buying on market after 50%? I've...

Mak where was this mentioned re buying on market after 50%? I've just reread the section in the bidders document (pasted below) and it makes no mention of it.



6.3 Intentions upon acquiring more than 50% but less than 90%

This section outlines Minemakers’ current intentions in the event that it was to acquire more than 50% but less than 90% of Bonaparte Shares.

If Minemakers secures effective control of Bonaparte by receiving acceptances for at least 50.1% of all Bonaparte Shares but is not able to proceed to compulsory acquisition, it will have some capacity to influence the action, operations and management of Bonaparte, subject to its obligations at law.

In this circumstance, Minemakers would, to the extent to which it is able to do so, look to:

(a) continue the business of Bonaparte;
(b) retain the listing of Bonaparte on ASX (subject to satisfying the ongoing requirements under the ASX Listing Rules, including there being a sufficient number and spread of Bonaparte shareholders. Under the ASX Listing Rules a listed company must maintain a spread of holdings which, in ASX’s opinion, is sufficient to ensure that there is an orderly and liquid market in its securities. ASX may suspend and eventually de-list a company which does not meet its spread requirements. It is possible that, depending on the level of acceptances of the Offer, ASX may de-list Bonaparte on this basis);
(c) seek Board representation to a level commensurate with its shareholding;
(d) hold the Bonaparte Shares acquired;
(e) evaluate the means necessary to appraise and commercialise Bonaparte's assets;
(f) develop a strategy to appraise Bonaparte's exploration assets;
(g) develop a strategy to fund the development of Bonaparte's assets; and
(h) apply Minemakers’ skills and expertise to continue the development of the Bonaparte assets and look to unlock the potential which Minemakers believes to exist within the Bonaparte assets.

The ability of Minemakers to implement its intentions will be subject to the legal obligations of Bonaparte directors to have regard to the interests of Bonaparte and all Bonaparte shareholders and the requirements of the Corporations Act and the ASX Listing Rules relating to transactions between related parties. These may limit or modify implementation of the intentions outlined above. Also, as a result of those requirements, the approval of minority Bonaparte shareholders may be required for the implementation of some of the intentions outlined above.