If they did all the buying today, they will reach their max soon - I guess - on today's update it said they could buy up to 730,484 more shares - so maybe even in a weeks time they will reach the limit.
Agreed they would only make a bid if they were sure of institutional support.
I think if they go over 90% they can make compulsory acquisition?
http://www.sraa.asn.au/takeovers-for-ordinary-shares.html
see - Dealing with Dissenting Offerees - Compulsory Acquisition
(not sure if it has to be in the situation of an active take over or if they can creep up slowly to that holding, and what price those dissenting shareholders).
If they did all the buying today, they will reach their max soon...
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Last
$1.01 |
Change
0.010(1.00%) |
Mkt cap ! $112.9M | |||
| Open | High | Low | Value | Volume |
| $1.00 | $1.05 | 97.5¢ | $243.0K | 238.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3737 | $1.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.04 | 9000 | 1 |
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| SKS (ASX) Chart |