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clock Created with Sketch. 15/06/20
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Originally posted by Artvandelay01:
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We are currently trading at a premium to the bid price of $5.20 a share (if you include the $0.10 special divvy) - so the market either thinks there’s a chance of another bidder, or maybe people are happy to buy here and roll some into UWL scrip thinking they can make some $ on the arbitrage? Given the directors and senior management hold close to 50% collectively it’s hard to see the scheme getting voted down - unless they’re precluded from voting? I’ll need to go back and check the legal framework for schemes as it’s been a while since I last looked at it closely.
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Directors can vote, but I think the scheme requires a 75% majority under section 411 4b of corporations act.
