If approved gives shareholders the option to approve on a price given by sino on their proportional takeover bid which would include a premium. The shares would be sold under a different code like MMXE. Anyone holding before the the cum offer date is entitled to sell upto a % of their holdings at the price offered but the trade would not settle until whatever date is given. The remaining shares would trade as normal under MMX. What price would MMX trade at opposed to the premium offer? Eh? I got no idea as this sounds like a raw deal.
Anyone got an example of a previous proportional takeover event.
Also MMX mgmt sounds like they are looking at investing some of that 160mil into stock on the ASX. Or is that just me again.
MMX Price at posting:
51.0¢ Sentiment: Hold Disclosure: Held
