Referencing by companies to to the 90 day VWAP is merely an indicator not a legal requirement. More relevant to large cap and liquid (in trading terms) companies.
No way the Board would reference this measure as a valid basis for accepting a takeover offer from Z. Particularly when Minorities are the focus of the bid as opposed to a number of large (significant) competing shareholders.
NKP Price at posting:
3.4¢ Sentiment: Buy Disclosure: Held
