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1.0¢ australian mines limited

SK Innovation, page-67

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GeoAce

938 Posts.

419

18/01/19

21:25

Post #: 37160843
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Originally posted by vintage ↑

JD - it is indeed simple - but not quite as simple as you are perceiving. There are 4 bits of info you require - 3 from the announcement and 1 from Company law:

1. The phrase in the announcement:

"As such, to obtain this discount, SK Innovation’s must acquire 669 million ordinary shares of Australian Mines at $0.12 per share on or before 20 February 2019 (the Placement Shares)"

2. The phrase in the announcement:

"the acquisition of the Placement Shares by SK Innovation is subject to shareholder approval"

3. The phrase in the announcement:

"Should SK Innovation elect to acquire the Placement Shares between the date of this announcement and 20 February 2019 (being three months following the release of the Bankable Feasibility Study on the Sconi Project), the Company will be required to convene a General Meeting of shareholders and include a resolution similar in wording to that of Resolution 1 from the 30 May 2018 General Meeting"

4. Corporations Act requirement that listed companies must give a minimum of 28 days notice of a General Meeting of shareholders

Simple and unambivalent for those that care to read!

Expand

It can’t be any clearer than that on what must happen.
How that can be twisted into oh maybe this or that, seriously!

AUZ Price at posting: 4.4¢ Sentiment: Sell Disclosure: Not Held
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