SMN - Chart, page-3345

Interesting point. However there are rules governing foreign takeovers of Australian companies and then it comes down to just how tightly the share register is held. Founders and initial IP investors of small start up companies with obvious promise can hold a significant holding interest in the company.

So the offer would need to be substantial enough to gain the percentage required for compulsory takeover.

A quick look at the last Annual report shows that 227 shareholders own 75% of the company. But some of the biggest shareholder could be countered a number of times of that 227.

From the top 20 listing most are through nominees with Drake holding 15.7%, but there are family trust , superannuation account and private holdings in the list..

So it's difficult to ascertain just how tightly the register is packed.

If Boeing put out feelers to try to evaluate the chance of a takeover, that could result in the significant holders raising expectations of what they can get. Could also result in a third party scooping up loosely held shares to make a quick profit.

It's not a simple as it seems at first glance.

Cheers Lies