timeline of next immediate BZ takeover steps

Given we are edging towards the time when the mandatory target statement will be released, I thought I'd look at the TOPs determination again to see what the timeline is

1) Determination was made on the 5th of Oct
2) ASIC to nominate 3 independent experts, and Bullzeye to engage one of them.
2) Expert had to file his report to Bullzeye within 3 months, of the date of engagement.
3) Bullzeye must supply the target statement to the take over panel
4) Panel has to review and agree to the target statement (or one assumes reject/ask for changes)
5) Within 2 days of the panel signing off on the statement, Bullzeye has to publish it
6) EMR has to keep the offer open at least 10 working days after the publication.

a) How long did it take the ASIC to select 3 independent experts from which Bullzeye had to select 1.

The unknowns are
a) How long it took ASIC to get involved and nominate the 3 experts.
b) How long it took Bullzeye to "engage"
c) How long it took the expert to make his/her report, I'd suggest taking close to the full 3 months allowed has to be assumed.
d) How long it will take Bullzeye to supply the target statement after receiving the report. However, You'd guess it is in their interest, good/or bad to get it out ASAP.
e) How long it takes the TOP to review and respond, and whether they accept or request changes. TOP is hardly just sitting there waiting for this, so there will be a bit of a queue. They generally seem to respond to filings within a couple of weeks.
f) and a min of 10 days after that, the offer closes

So there could yet be another extension. And of course moreso if the report comes back unfavourable and the TOP requests ASIC to ask them to review

"The Panel proposes to refer this matter to ASIC under Regulation 18 of the ASIC Regulations 2001, for ASIC to consider making an application to the Panel in the event that the independent expert determines that Xinhe and Au Xingao obtained a net benefit in connection with Emerald’s takeover bid that was not provided to other Bullseye shareholders."

The above would open up another indeterminable delay.