They are over the 3% creep rule so my thinking is they will have...

They are over the 3% creep rule so my thinking is they will have to launch a follow up takeover bid which is what I thought they would do anyway because it just didnt make sense for them not to have another crack at LMR

Interestingly the seller incorporated a clause covering a takeover to ensure that they will recieve whatever amount offered under the takeover

http://ww1.investorrelations.co.uk/...egulatorynews_item.jsp?ric=BSH.L.TK&ref=75064

"Under the terms of the Agreements, if within six months of the date of the Agreements, Bushveld announces or makes, a takeover offer, scheme of arrangement or other proposal (a "Bid"), which, if it were to complete, would mean that the Company would acquire additional shares in Lemur, and the Company does acquire additional shares in Lemur pursuant to such Bid, the Company may be required to pay additional consideration to the Vendors. In such an event, the amount of additional consideration is to be an amount equal to the amount (if any) by which the value the Vendors would have received if they had sold their shares pursuant to the relevant Bid, exceeds the value of the Consideration Shares at the time of the Bid. Any additional consideration due to the Vendors is to be satisfied in the same form as under the relevant Bid and, therefore, if the consideration payable pursuant to the Bid is to be satisfied, in whole or in part, by the issue of shares in the Company, the Company could be required to issue further shares in Bushveld to the Vendors in order to satisfy the additional consideration."