trading halt, page-18

I'm guessing that change of control means a shareholder wants to move to 51% or greater of total shareholding but not to 100%. In other words they effectively control the boards decisions for all shareholders through the fact that they can vote

To get to their 51% number they make on / off market offer to buy out minority Shareholders ( all current shareholders who wish to sell) until the reach their 51% or higher threshold. Usually it will be required that all shareholders have access to the offer otherwise it would be deemed unfair to certain groups of shareholders.

I suspect the original offer maybe was at 53cents but I doubt that the board would recommend it. So maybe it has some additional conditional element linked to them getting 51% or control.

I hope I'm wrong but I feel that the offer will be at 53 cents off market bid maybe with some sweeteners.