Correct, and it goes further than just notices to ASX.
Due to their current shareholding level (>20%) they are limited to how much they can buy in any 6 month period (no more than +3%). If they breached this requirement they would be required to launch a takeover bid or enter into a scheme of arrangement.
The following article explains it all pretty well. https://www.minterellison.com/articles/summary-of-australian-takeover-laws
It also explains why AF would not be selling on market or off market to BMM.
Correct, and it goes further than just notices to ASX. Due to...
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $14.85M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.5¢ | 0.4¢ | $10.90K | 2.208M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 91 | 67982543 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 16639217 | 30 |
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| Last trade - 13.42pm 11/07/2024 (20 minute delay) ? |
| POS (ASX) Chart |