J-Power hold ~7.72% and given this is a friendly approach with the board and Skip Capital on side - they won't buy more. If they did, they need to notify for each +1% under ASX rules (they won't buy though).
I think holders are forgetting that J-Power are a JV partner, extended a corporate loan ($35m which is fully drawn, to avoid dilution at 14c) and generally have been supportive of the company.
Given the tight pricing to the offer price indicates it's a done deal. Low probability of any interlopers given the above & just in case Howie thinks the NAIF loan is going to kill the deal - it wasn't even an issue last time (I spoke with a contact at Stonepeak - MAT issues were unquantifiable at the time and cost of debt was prohibitive of pushing ahead).
TAKEOVERS PANEL and the INDEPENDENT EXPERT REPORT., page-29
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Last
26.5¢ |
Change
-0.005(1.85%) |
Mkt cap ! $367.0M | |||
| Open | High | Low | Value | Volume |
| 27.0¢ | 27.0¢ | 26.5¢ | $254.3K | 952.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 45 | 47489234 | 26.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.0¢ | 16501370 | 144 |
View Market Depth
| Last trade - 16.10pm 17/05/2024 (20 minute delay) ? |
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Last
27.0¢ |
Change
-0.005 ( 0.93 %) |
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| Open | High | Low | Volume | ||
| 26.8¢ | 27.0¢ | 26.8¢ | 354413 | ||
| Last updated 15.59pm 17/05/2024 ? | |||||
| GNX (ASX) Chart |