Merger? What Merger, just an unsuccessful full takeover by MTQ who tried every trick in the book (including the old broker handling fee ie 30 pieces of silver) to get investors to sell so they could get to 90% and then compulsory takeover the remaining shares at $0.032. Since they only got to 86.81% they can't even "creep" the 3% they're allowed every six months to get to 90%. To get a new takeover to the compulsory stage, not only do they have to get to 90%, but they also have to get 75% of the shares outstanding.
Thus 100% - 86.81% = 13.19% x 75% = 9.8925%
Thus for MTQ to compusorily acquire the remaining shares via a takeover, they will to reach 86.81% + 9.8925% = 96.7% of the company - which won't happen.
So their options are to try to creep to the 90% by buying on market (good luck with that with the volumes trading and the good news thats about to come out). Anyway if they do creep to 90% and wish to compulsory acquire, ASIC appoints an independent expert to value the company.
However hopefully they'll finally show remaining shareholders some respect and offer a decent takeover price to take out minorities ie $0.05+ - will still mean their average price will only be $0.035 for the whole company - considering they are already valuing it at $0.04 in their books, not a huge stretch.
J
NMS Price at posting:
2.6¢ Sentiment: LT Buy Disclosure: Held
