I think the trick with this is to consider the use of a SPV to buy stock at this extremely low price. I have this hunch that if I read read the documentation very closely I would find a way to cause a lot of annoyance to the principal contractors and sponsors, very cheaply and with no downside. You only need 39 friends with 10k each to control $3 bill worth of infrastructure right now. I'm surprised no one has cotton on.
Downside is 10k. Use a fresh SPV to buy the stock and wind it up if the strategy doesnt work.
No change of control clause is triggered and you are potentially in a greenmail position re having the State of Queensland, and the sponsors and principal contractors, bankers, suppliers and QIC by the short and curlies.
Big upside!
Any lawyers out there want to help me punt some research?
I think the trick with this is to consider the use of a SPV to...
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