AVZ (ASX) Takeover offer

Originally posted by cruiser51 ↑

H00ts they wrote:

The Resource Capital offer:
• has been structured and is capable of being accepted only by institutional shareholders
of AVZ; and
• is not a formal takeover offer under Chapter 6 of the Corporations Act.

They have attempted this same trick by using a different name.
I would not be surprised before the next AGM we will get another few attempts, don't you worry.

However meanwhile, I checked some addresses, just to have a good laugh:

Resource Capital Investments Pty Ltd ACN: 678 207 308

Address details: L1, 516 Hay Street, Subiaco WA 6008 AUSTRALIA
Contact Details: +61 (8) 6489 2900 / [email protected]

and

RTG Mining (The carrot man's company)
MICHAEL J. CARRICK Chairman
Michael Carrick is a Chartered Accountant with over 30 years of experience in the resources sector.
He is currently Chairman of the RTG Mining Inc. and was previously Chairman and CEO of CGA Mining, Chairman of AGR and CEO of Resolute.

CORPORATE HEADQUARTERS

Level 1, 516 Hay Street
Subiaco | WA 6008 | Australia
T: +61 8 6489 2900
F: +61 8 6489 2920

You get the drift? You really don't have to be a rocket scientist to understand what is going on here.

Soooo H00ts, I don't know if you are aware, the MMGA website is no more, one wonders why.

This is just another attempt from these guys, who were overwhelmingly voted out during the last AGM and left with their Fat Tail Holding between their legs.
I would have loved it, if they would have stayed after the AGM for drinkies, but I think they got the message.

It was a great view seeing them doing the disappearing act as if the devil was on their back.

Expand

Yes I understand its not a take over offer very sloppy communication by all those super funds using that wording . My point was if the company was still listed the info contained in the link I posted regarding the offer to institutions to purchase up to 20% of the shares on issue would have had to been disclosed to market.

Unlike rusted on retail holders the index tracking funds had to buy stock when AVZ entered the ASX 200 they have been trapped for 2 years they have no invested emotion attached to their holding and I expect will be happy to get it of their books.

Yes the coup attempt at the last AGM failed but it became obvious that all the Chinese holdings will be voted as a block in the future there would appear to be a very real risk that they will be able to purchase enough stock to roll the board at the next AGM and shareholders no longer have the protection of the ASX listing rules so will have to place their faith in ASIC to oversee any potential shenanigan's.

Those who had the view that nothing would change after it was delisted were being extremely naïve .